Amendment status not verified — confirm the current text below against the official source.
(1) The Medium Term Fiscal Policy Statement shall be in such Medium Term Fiscal Policy Statement form as may be prescribed and it shall contain the fiscal objectives of the State Government and five year rolling targets with clear enunciation of underlying assumptions. (2) In particular and without prejudice to the provisions contained in sub section (1), the Medium Term Fiscal Policy Statement shall include the various assumptions behind the fiscal targets and an assessment of sustainability relating to:- (i) the balance between revenue receipts and revenue expenditures; (ii) the use of capital receipts including borrowings for generating productive assets; and (iii) the estimated yearly pension liabilities worked out on actuarial basis or using trend growth rate for the next ten years.