The Gujarat Fiscal Responsibility Act, 2005
gujarat · 2005
The scanned source for this Act is imperfect — headings or section boundaries may be off. Verify against the official source.
- S. 1Section 5 was substituted by Guj
- S. 2In this Act, unless the context otherwise requires,- Definitions
- S. 3Section 3 mandates the State Government to present fiscal policy statements and objectives to the State Legislature annually.
- S. 4Section 4 mandates Gujarat's government to reduce deficits and build surplus, guided by fiscal management principles like transparency and efficiency.
- S. 5Fiscal management targets
- S. 6Section 6 mandates the Gujarat State Government to enhance fiscal transparency and disclose significant budget changes and contingent liabilities.
- S. 7Section 7 mandates budget consistency with fiscal policy objectives, corrective actions for deviations, and Finance Minister's review report on fiscal trends.
- S. 8Power to make rules
- S. 9Section 9 protects the State Government and its officers from legal actions for actions taken in good faith under the Act.
- S. 10Section 10 allows the Gujarat Fiscal Responsibility Act to add to, not override, existing laws.
- S. 11Power to remove difficulties
- S. 1963Allows Gujarat State Government to exceed fiscal deficit limits due to unforeseen demands, with a requirement to report to the Legislature.
- S. 2005(2) It shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint
- S. 20212 THE GUJARAT FISCAL RESPONSIBILITY ACT, 2005 [ 2005 : Guj