Re-adjustment of income and expenditure to be made by the City Corporation during the course of the official year whenever necessary

Re-adjustment of income and expenditure to be made by the City Corporation during the course of the official year whenever necessary.- (1) If it shall at any time during any year appear to the City Corporation upon the representation of the Standing Committee for taxation and finance, that, notwithstanding any reduction of budget grants that may have been made under this Chapter, the income of the City Corporation fund during the said year will not suffice to meet the expenditure sanctioned in the budget estimate of the said year and to leave at the close of the year a cash balance of not less than one lakh of rupees under General Account-Revenue, it shall be incumbent on the City Corporation either to diminish the sanctioned expenditure of the year, so far as it may be possible to do with due regard to all the requirements of this Act, or to have recourse to supplementary taxation, or to adopt both of these expedients in such measure as may be necessary to secure an estimated cash balance of not less than one lakh of rupees under General Account-Revenue at the close of the year.

1. (2) Whenever the City Corporation determines to have recourse to supplementary taxation in any year, it shall do so by increasing for the unexpired portion of the year the rate at which any tax or duty is being levied subject to the conditions, limitations and restrictions laid down in this Act.