Amendment status not verified — confirm the current text below against the official source.
extent and commencement Amendment of 2. Section 4 (1) This Act may be called the Assam Fiscal Responsibility and Budget Management (Amendment) Act. 2007. (2) It shall have the like extent as the principal Act. (3) It shall be deemed to have come into force on the first day of September, 2005, the day on which the principal Act came into force, save and except clause (iv) of section 2 of this Act which shall come into force at once In the principal Act. in section 4. in sub-section (3). - (i) for the existing clause (ii), the following shall he substituted, namely : - “(ii) reduce revenue deficit annually at an average annual reduction rate consistent with the goal set out in clause (ii) for the existing clause (vi), the following shall be substituted, namely : - “(G) reduce fiscal deficit annually as a percentage of Gross State Domestic Product at an average reduction rate consistent with the goal set out in clause (v (iii) for the existing clause (viii), the following shall be substituted, namely : “(viii) State Government guarantee for the loans contracted by Public Sector Undertakings. Boards. Companies, Corporations, Cooperative Societies or Autonomous organizations under the Slate Government, shall be restricted at any point of time to fifty percent of State’s own tax and non-tax revenue of the second preceding year, as reflected in the books of accounts as maintained by the Accountant General ; (iv) after the existing proviso of clause - (viii), the foilowing shall be inserted as clause (ix), namely:- “(ix) ensure to bring out special statement along with the annual budget giving in detail, number of employees in Government, Public Sector and Aided institutions and related salary.” MOHD. A. HAQUE, Secretary to the Government of Assam, Legislative Department. GUWAHAT1-Printed and Published by the Dy. Director (P&S), Directorate of Ptg. & Sty.. Assam, Guwahati-21 (Ex-Gazette) No. 575-500-600-29-08-2007.