Arunachal Pradesh Ftscal Responsibility (Amendment) Act, 20061
| [Arunachal Pradesh Act No. 14 of 2006] | [6th December, 2006] |
An Act to amend the Arunachal Pradesh Fiscal Responsibility Act, 2006 (Act No. 4 of 2006).
Be it enacted by the Legislative Assembly of Arunachal Pradesh in the Fifty-seventh Year of the Republic of India as follows:-
1 Received the assent of the Governor on 6th December, 2006.
1. Short title and commencement.- (1) This Act may be called the Arunachal Pradesh Fiscal Responsibility (Amendment) Act, 2006.
(2) It shall be deemed to have come into force with effect from 1st April, 2005.
2. Amendment of title.- In the Title "The Arunachal Pradesh Fiscal Responsibility Act, 2006", after the word, "Responsibility" and before the word "Act", the words, "and Budget Management" shall be inserted.
3. Amendment of section 4(3).- (1) In the Arunachal Pradesh Fiscal Responsibility Act, 2006 (hereinafter referred to as the Principal Act), the clause (a)(b) & (c) of sub-section (3) of section 4, shall be substituted by the following, namely:-
"(a) maintain at least the level of revenue surplus in the base year (average of 2001-2002 to 2003-2004), in the subsequent years beginning from the initial financial year on 1st day of April, 2005 and ending on 31st day of March, 2009.
(b) maintain revenue surplus as a percentage of Gross State Domestic Product (GSDP) in each of the financial year beginning on the 1st day of April, 2005 in a manner consistent with the goal set out in clause (a);
(c) to reduce fiscal deficit to not more than three percent of the estimated Gross State Domestic Product (GSDP) within a period of four financial years beginning from the initial financial year on the 1st day of April, 2005 and ending on the 31st day of March, 2009."
(2) In the Principal Act, after clause (e) of sub-section (3) of section 4, the following clause shall be added, namely:-
"(f) bring special report along with the budget giving in details of numbers of employees in Government, public sector and aided Institutions and related salaries."
(3) In the Principal Act, in sub-section (3) of section 4 in the first line of the first proviso the words ‘revenue deficit’ appearing after the word "that" and before the word ‘and’ shall be substituted, by the following words, namely:-
"revenue surplus may decrease."