PUNJAB GOVT GAZ. (EXTRA.), APRIL 1, 2011 15
(CHTR 11, 1933 SAKA)
PART I
DEPARTMENT OF LEGAL AND LEGISLATIVE AFFAIRS, PUNJAB
Notification
The 1st April, 2011 No. 09-1Leg./2011.-The following Act of the Legislature of the
State of Punjab received the assent of the Governor of Punjab on the 31st March, 2011 and is hereby published for general information THE PUNJAB FISCALRESPONSIBILITYAND BUDGET MANAGEMENT
(AMENDMENT) ACT, 2011
(Punjab Act No. 5 of 2011) AN
ACT
further to amend the Punjab Fiscal Responsibility and Budget Management Act, 2003.
BE it enacted by the Legislature of the State of Punjab in the Sixty second Year of the Republic of India as follows :
1. () This Act may be calBed the Punjab Fiscal Responsibility and Short title and Budget Management (Amendment) Act, 2011.
(2) It shall come into force at once.
2. In the Punjab Fiscal Responsibility and Budget Management Act, Amendment in
2003, in section 4, in sub-section (2), for clauses (a), (b) and (c), the following section 4 of Punjab clauses shall be substituted, namely :
"(a) contain fiscal deficit as per cent of Gross State Domestic Product
(GSDP) at 3.5 per cent in the financial years 2010-2011, 2011 2012 and 2012-2013, and at 3.0 per cent in the financial years 2013-2014 and 2014-2015 and maintain thereafter:
(b) reduce revenue deficit as per cent of Gross State Domestic Product
(GSDP) so as to bring it down to 1.8 per cent in the financial year 2011-2012, 1.2 per cent in the financial year 2012-2013, 0.6 per cent in the financial year 2013-2014 and zero per cent or surplus in the financial year 2014-2015 and maintain thereafter ;
(c) bring down its debt as per cent of Gross State Domestic Product
(GSDP) to 42.5 per cent in the financial year 2010-2011, 41.8 per
cent in the financial year 2011-2012, 41.0 per cent in the financial year 2012-2013, 39.8 per cent in the financial year 2013-2014 and 38.7 per cent in the financial year 2014-2015".
GOBINDER SINGH,
Commencement.
Secretary to Government of Punjab, Departmernt of Legai and Legislative A ffairs.
Act 1i of 2003.
—————— Se
PUNJAB GOVT GAZ. (EXTRA.), APRIL 1, 2011 15
(CHTR 11, 1933 SAKA)
PART I
DEPARTMENT OF LEGAL AND LEGISLATIVE AFFAIRS, PUNJAB
Notification
The 1st April, 2011
No. 09-Leg./2011.—The following Act of the Legislature of the State of Punjab received the assent of the Governor of Punjab on the 31st March, 2011 and is hereby published for general information :—
THE PUNJAB FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2011 (Punjab Act No. 5 of 2011)
AN
ACT
further to amend the Punjab Fiscal Responsibility and Budget Management Act, 2003.
BE it enacted by the Legislature of the State of Punjab in the Sixty- second Year of the Republic of India as follows :—
1. (I) This Act may be called the Punjab Fiscal Responsibility and Short title and . Budget Management (Amendment) Act, 2011. commencemen
(2) It shall come into force at once.
2. In the Punjab Fiscal Responsibility and Budget Management Act, Amendment in 2003, in section 4, in sub-section (2), for clauses (a), (b) and (c), the following Section 4 of Punjab
Act 11 of 2003. clauses shall be substituted, namely :—
“(a) contain fiscal deficit as per cent of Gross State Domestic Product (GSDP) at 3.5 per cent in the financial years 2010-2011, 2011- 2012 and 2012-2013, and at 3.0 per cent in the financial years 2013-2014 and 2014-2015 and maintain thereafter :
(b) reduce revenue deficit as per cent of Gross State Domestic Product (GSDP) so as to bring it down to 1.8 per cent in the financial year 2011-2012, 1.2 per cent in the financial year 2012-2013, 0.6 per cent in the financial year 2013-2014 and zero per cent or surplus in the financial year 2014-2015 and maintain thereafter ;
(c) bring down its debt as per cent of Gross State Domestic Product (GSDP) to 42.5 per cent in the financial year 2010-2011, 41.8 per cent in the financial year 2011-2012, 41.0 per cent in the financial year 2012-2013, 39.8 per cent in the financial year 2013- 2014 and 38.7 per cent in the financial year 2014-2015 ;”
GOBINDER SINGH, - Secretary to Government of Punjab,
Department of Legai and Legislative Affairs.