Bare Act Search Results

Fiscal Responsibility Act, 2002 (16 of 2002) Section 4

Title: Fiscal Management Principles

State: Karnataka

Year: 2002

.....initial financial year on the 1st day of April, 2002, and ending on the 31st day of March, 2015; that the total liabilities at the end of the last financial year do not exceed twenty five per cent of the estimated gross state domestic product for that year; Provided that revenue deficit and fiscal deficit may exceed the limits specified under this sub-section due to ground or grounds of unforeseen demands on the finances of the State Government due to national security or natural calamity, subject to the condition that the excess beyond limits arising due to natural calamities does not exceed the actual fiscal cost that can be attributed to the calamities; Provided further that the ground or grounds specified in the first proviso shall be placed before the House of Legislature, as soon as may be, after it becomes likely that such deficit amount may exceed the aforesaid limits, with an accompanying report stating the likely extent of excess, and reasons therefor.

Fiscal Responsibility Act, 2002 (16 of 2002) Preamble 1

Title: Karnataka Fiscal Responsibility Act, 2002

State: Karnataka

Year: 2002

THE KARNATAKA FISCAL RESPONSIBILITY ACT, 20021 [ACT, No. 16 of 2002] [27th August, 2002] PREAMBLE An Act to provide for the responsibility of the State Government to ensure fiscal stability and sustainability, and to enhance the scope for improving social and physical infrastructure and human development by achieving sufficient revenue surplus, reducing fiscal deficit and removing impediments to the effective conduct of fiscal policy and prudent debt management through limits on State Government borrowings, debt and deficits, greater transparency in fiscal operations of the State Government and use of a medium-term fiscal framework and for matters connected therewith or incidental thereto. Whereas it is expedient to provide for the responsibility of the State Government to ensure fiscal stability and sustainability, and to enhance the scope for improving social and physical infrastructure and human development by achieving sufficient revenue surplus, reducing fiscal deficit and removing impediments to the effective conduct of fiscal policy and prudent debt management through limits on State Government borrowings, debt and deficits, greater transparency in fiscal.....

Fiscal Responsibility and Budget Management Act 2003 Section 4

Title: Fiscal Management Principles

State: Central

Year: 2003

(1) The Central Government shall take appropriate measures to reduce the fiscal deficit and revenue deficit so as to eliminate revenue deficit by the1[31st March, 2009] and thereafter build up adequate revenue surplus. (2) The Central Government shall, by rules made by it, specify-- (a) the annual targets for reduction of fiscal deficit and revenue deficit during the period beginning with the commencement of this Act and ending on the1[31st March, 2009] ; (b) the annual targets of assuming contingent liabilities in the form of guarantees and the total liabilities as a percentage of gross domestic product: Provided that the revenue deficit and fiscal deficit may exceed such targets due to ground or grounds of national security or national calamity or such other exceptional grounds as the Central Government may specify: Provided further that the ground or grounds specified in the first proviso shall be placed before both Houses of Parliament, as soon as may be, after such deficit amount exceed the aforesaid targets. ___________________________ 1. Substituted for the words "31st March, 2008" by the Finance (No.2) Act, 2004.

The Jharkhand Fiscal Responsibility and Budget Management Act, 2007 Complete Act

State: Jharkhand

Year: 2007

.....under sub-section (2) of Section 6; and (d) any other matter which is required to be and not inconsistent with the provisions of the Bill. Section 10 - Rules to be laid before the Legislative Assembly Every rule made under this Bill shall be laid, as soon as may be after it is made, before Legislative Assembly, while it is in session, before the expiry of the session or immediately following the session. Section 11 - Protection of action taken in good faith No suit, prosecution or other legal proceedings shall lie against the State Government or any officer of the State Government for anything which is in good faith done or intended to be done under this Bill or the rules made there under. Section 12 - Application of other laws not barred The provisions of this Bill shall be in addition to and not in derogation of, the provisions of any other law for the time being in force. Section 13 - Power to remove difficulties (1) If any difficulty arises in giving effect to the provisions of this Bill, the State Government may be, by order published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act as may appear be.....

The Orissa Fiscal Responsibility and Budget Management Act, 2005 Complete Act

State: Orissa

Year: 2005

.....of statement under sub-section (2) of section 6; and (d) any other matter which is required to be and not inconsistent with the provisions of !he Act. 10. Rules to be laid. Every rule made under this Act shall, as soon as may be after it is made, be laid before the State Legislature for a total period of fourteen days which may be comprised in one or more sessions and if during the said period the Stale Legislature makes modifications, if any, therein, the rule shall thereafter, have effect only in such modified form so, however, that such modification shall be without prejudice to the validity of anything previously done under that rule. 11. Protection of action taken in good faith. No suit, prosecution or other legal proceedings shall lie against the State Government or any officer of the State Government for anything which is in good faith done or intended to be done under this Act or the rules made thereunder, 12. Application of other laws not barred. The provisions of this Ad shall be in addition to and not in derogation of the provisions of any other law for the time being in force. 13. Power to remove difficulties. (1) Any difficulty arises in giving.....

The Haryana Fiscal Responsibility and Budget Management Act, 2005 Complete Act

State: Haryana

Year: 2005

.....lie against the State Government or any officer of the State Government for anything which is in good faith done or intended to be done under this Act or the rules made thereunder. 13. Application of other laws not barred.- The provisions of this Act shall be in addition to, and not in derogation of, the provisions of any other law for the time being in force. 14. Power to remove difficulties.- (1) If any difficulty arises in giving effect to the provisions of this Act, the State Government may, by order published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act as may appear to be necessary for removing the difficulty: Provided that no order shall be made under this section after the expiry of two years from the commencement of this Act. (2) Every order made under this section shall be laid, as soon as may be after it is made, before the State Legislature. 15. Power to make rules.- (1) The State Government may, by notification in the Official Gazette, make rules for carrying out the purposes of this Act. (2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide.....

The Chhattisgarh Fiscal Responsibility and Budget Management Act, 2005 Complete Act

State: Chattisgarh

Year: 2005

.....or any other person exercising any power or discharging any function or performing any duty under this Act, for anything done in good faith or intended to be done under this Act or any rule made thereunder. Section 10 - Bar of jurisdiction of civil courts No civil court shall entertain any suit or proceeding against any decision made or order passed by the officer or authority under this Act or any rule made thereunder. Section 11 - Act not in derogation of any other law The Provisions of this Act shall be in addition to and not in derogation of any other law for the time being in force. Section 12 - Power to remove difficulties (1) If any difficulty arises in giving effect to the provisions of the Act, the State Government may, by order published in the Official Gazette, make such provisions not inconsistent with the provisions of the Act as may be deemed necessary for removing the difficulty: Provided that no order shall be made under this section after the expiry of two years from the commencement of the Act. (2) Every order made under this section shall be laid, before the State Legislature. Chhatisgarh State Acts

Fiscal Responsibility and Budget Management Act, 2003 Complete Act

State: Central

Year: 2003

.....in good faith done or intended to be done under this Act or the rules made thereunder. SECTION 11: JURISDICTION OF CIVIL COURTS BARRED No civil court shall have jurisdiction to question the legality of any action taken by, or any decision of, the Central Government, under this Act. SECTION 12: APPLICATION OF OTHER LAWS NOT BARRED The provisions of this Act shall be in addition to, and not in derogation of, the provisions of any other law for the time being in force. SECTION 13: POWER TO REMOVE DIFFICULTIES (1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act as may appear to be necessary for removing the difficulty : Provided that no order shall be made under this section after the expiry of two years from the commencement of this Act. (2) Every order made under this section shall be laid, as soon ;;s may be after it is made, before each House of Parliament. Central Bare Acts

The Himachal Pradesh Fiscal Responsibility & Budget Management Act, 2005 Complete Act

State: Himachal

Year: 2005

.....the current and future years by curtailing the sums authorized to be paid and applied from and out of the Consolidated Fund of the State under any Act enacted by Legislative Assembly to provide for the appropriation of such sums, or by taking interim measures for revenue augmentation, or by taking up a combination of both. Provided that nothing in this sub-section shall apply to the expenditure charged on the Consolidated Fund of the State under clause (3) of article 202 of the Constitution. Section 8 - Powers to make rules (1) The State Government may, by notification in the Official Gazette, make rules for carrying out the provisions of this Act. Sub-section (2) subs. vide Act No. 26 of 2005. [(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:- (a) the measures for evaluation of the fiscal position of the State Government under Clause(f) of section 2; (b) the fiscal indicators under sub-section (2) of section 3; (c) the form of medium term fiscal plan under sub-section (4) of Section 3; (d) the form of statements for disclosure under clauses (a), (b) and .....

The Kerala Fiscal Responsibility Act, 2003 Complete Act

State: Kerala

Year: 2003

THE KERALA FISCAL RESPONSIBILITY ACT, 2003 THE KERALA FISCAL RESPONSIBILITY ACT, 2003 (ACT 29 OF 2003) An Act to provide for the responsibility of the Government to ensure prudence in fiscal management and fiscal stability by progressive elimination of revenue deficit and sustainable debt management consistent with fiscal stability, greater transparency in fiscal operations of the Government and conduct of fiscal policy in a medium term fiscal frame work and for matters connected therewith or incidental thereto. Preamble.- WHEREAS it is expedient to provide for the responsibility of the Government to ensure prudence in fiscal management and fiscal stability by progressive elimination of revenue deficit and sustainable debit management consistent with fiscal stability, greater transparency in fiscal operations of the Government and conduct of fiscal policy in a medium term fiscal frame work and for matters connected therewith or incidental thereto. BE it enacted in the Fifty-fourth Year of the Republic of India as follows:- 1. Short title and commencement.- (1) This Act may be called the Kerala Fiscal Responsibility Act, 2003. (2) It shall come into force, on such date.....