(1) The Municipal Commissioner or the Executive Officer shall, while preparing the budget estimate, append thereto a report indicating whether the following services are being provided at a subsidized rate and, if so, the extent of the subsidy, the reasons therefor, the source from which the subsidy is being met, and the sections or categories of the local population who are the beneficiaries of such subsidy, namely:
(a) water-supply and disposal of sewage,
(b) collection, transporting and disposal of solid wastes,
(c) public transport, and
(d) any other service which the municipality or the government may decide, from time to time.
Explanation - A service shall be construed as being provided at a subsidized rate if its total cost, comprising the expenditure on operation and maintenance and adequate provision for depreciation of assets and for debt servicing, exceeds the income relatable to the rendering of that service.
(2) The Standing Committee shall examine the report referred to in sub-section
(1) and place the same before the Council with its recommendations, if any, by 1st March of the financial year.
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