136. (1) Where a project is framed for the execution of any work or series of works the entire estimated cost of which exceeds [twenty lakh rupees,]--
(a) the [Municipal Commissioner] shall cause a detailed report to be prepared including such estimates and drawings as may be requisite and forward the same to the Executive Committee who shall submit the same before the [Corporation] with its suggestions if any ;
(b) the [Corporation] shall consider the report and the suggestions and may reject the project or may approve it either in its entirety or subject to modifications;
2(a) Where the [Corporation] approves the project and the entire estimated cost exceeds [thirty lakh rupees] the report, subject to any modifications as aforesaid, shall be submitted to the State Government;
(b) The State Government may reject the project or may sanction it either in its entirety or subject to modifications;
(c) The work shall not be commenced before the project has been sanctioned by the State Government with or without modifications.
(d) No material change in the project sanctioned as aforesaid shall be carried into effect without the sanction of the State Government.
Explanation-- In this section and in section 135 the expression estimate means the total estimate for the whole of a project including the whole of the series of transactions constituting the project.
(3) The State Government may, by notification in the Gazette, modify the monetary limits specified in sub-section (1) or sub-section (2) keeping in view the rise of costs or the exigencies of the work and efficiency of Corporation.