109Adoption of budget estimates.

¹ [(1) ²[³[The Corporation]] shall, on or before the 31st day of March of every year, adopt for the ensuing year the budget estimate which shall be an estimate of the income and expenditure of ⁴[⁵[the Corporation]] to be received and incurred on account of the municipal government of ⁶[⁷[Delhi]].]
(2) On or before the 15th day of February of each year ⁴[⁵[the Corporation]] shall determine the rates at which various municipal taxes, rates and cesses shall be levied in the next following year and save as otherwise provided in this Act the rates so fixed shall not be subsequently altered for the year for which they have been fixed.
(3) Budget estimates shall be prepared in such form as may be approved by the Standing Committee and presented and adopted in such manner and shall provide for all such matters as are prescribed by regulations made in this behalf.