Amendment status not verified — confirm the current text below against the official source.
Fiscal management targets.- 1[(1) In particular and without prejudice to the generality of the foregoing provisions, the State Government shall- 2[(i) eliminate revenue deficit and maintain revenue surplus thereafter;] 3[(ii) maintain fiscal deficit of 6 percent or less of Gross State Domestic Product in the Financial Year 2022-23, 3.5 percent or less of Gross State Domestic Product in the Financial Years 2023-24 and 2024-25 and at the level of 3 percent or less of Gross State Domestic Product thereafter: Provided that interest free loan for a term of fifty years under the “Scheme for Special Assistance to States for Capital Expenditure” of the Central Government for financing infrastructure projects of the State, shall be allowed over and above all limits specified for fiscal deficit debt stock: Provided further that the fiscal deficit may exceed the prescribed limit if any unutilized borrowing of previous financial year is carried forward to subsequent financial year(s);] 4[(iii) reduce outstanding debt to level of such percentage of Gross State Domestic Product, as may be prescribed; and]