Preamble
| [Jharkhand Act No. 3 of 2010] | [1st April, 2010] |
An Act to amend the Jharkhand Fiscal Responsibility and Budget Management Act, 2007 (Act 07, 2007) in pursuance of the sanction of the Government of India in the Financial year 2009-2010 to borrow market debt. up to 4% of the Gross State Domestic Product.
Be it enacted by the Legislative of Jharkhand in the Sixtyfirst year of the Republic of India as follows:-
Section 1. Short title, extent and commencement
1. Short title, extent and commencement:-
(i) This Act may be called the Jharkhand Fiscal Responsibility and Budget Management (Amendment) Act, 2010.
(ii) It shall extend to the whole of the state of Jharkhand.
(iii) It shall come in to force from the date of the notification in official Gazette.
Section 2. Amendment in section 5(1)(b) of the Jharkhand Fiscal Responsibility and Budget Management Act, 2007
2. Amendment in section 5(1)(b) of the Jharkhand Fiscal Responsibility and Budget Management Act, 2007:- Section 5(1)(b) of the Jharkhand Fiscal Responsibility and Budget Management Act, 2007 is substituted as follows:-
"Reducing fiscal deficit to 3% (Three percent) of the estimated Gross State Domestic Product at the end of 31st March 2011"