Amendment status not verified — confirm the current text below against the official source.
Added by Act No.34 of 2020, s.2 4 . The Clause (cc) inserted by the Act No.8 of 2011 Section 2. 1[(ccc) ensure that for the financial years from 2015-16 to 2020-21, the outstanding total liabilities do not exceed 35 per cent of the estimated GSDP and maintain thereafter, including onetime additional borrowing of Rs. 2,534 crore permitted by Government of India for the year 2019-20 and 2% of GSDP additional borrowing permitted by Government of India for FY 2020-21 in the wake of Covid-19 pandemic.”.] (d) limit the amount of annual incremental risk weighted guarantees to 90 per cent of the TRR in the year preceding the current year: Provided that revenue deficit and fiscal deficit may exceed the limits specified under this section due to ground or grounds of unforeseen demands on the finances of the State Government arising out of internal disturbance or natural calamity or such other exceptional grounds as the State Government may specify: Provided further that a statement in respect of the ground or grounds specified in the first proviso shall be placed before the House or Houses of the Legislature, as soon as maybe, after such deficit amount exceeds the aforesaid targets.