Amendment status not verified — confirm the current text below against the official source.
Examination of the budget :– The State Government, or such authority, as the Government may empower in this behalf, shall examine the budget with a view to seeing that– (a) the estimate of income is reasonable and proper; (b) provision has been made for the minimum closing balance and minimum expenditure prescribed under Section 112; (c) provision has been made for the payment of any sums which the municipality may be liable to pay as instalments of the principal and interest upon loans raised by it under Section 111 for the purpose of this Act and for the formation of a sinking fund; (d) provision has been made for the expenditure of any grants given by Government for a specific purpose for such purpose.