Amendment status not verified — confirm the current text below against the official source.
Definitions.-4in;hliis !':,\c\,?nlesf\lie:O.&?t?i'f olherwise requires- ··--:: .. _:•:!.:_:.,-.")?<: ·.·\ . ' .. !.. !!.. . ? . .: -? 7-&t (a) "budget" ·rh?Aiis'·the · Annual . Fioal'lcial Statement laid before the +State legislattrre under·· Article ·20r of" the·· Constifiition;;:"": -????-·- ·-- • • • • ? '. -, • • • 'J •• (b) ncurtent ·year'' means" the ffnancial year ' preceding the ensuing y?ar; .· > -:: .:: . ;. :-. ?-- -- ..,,; .·. (c) "ensuing year" moans the financial year for which the budset is being presented; (d) "financial year" means the year beginning on the 1st April and ending on 31st March next following; (e) ''fiscal· deficit" means the excess of total disbursements from the .. · · Consolidated Fund of the State (excluding repayment .. of. debt) . , • . ,- ?- I.'. "f' over the sum of revenue receipts, recovery of loans and non-debt capital receipts into the Fund during a financial year; (0 "fiscal indicators" means such indicators as may be prescribed for evaluation of the fiscal position of the State Government; (g). "fiscal targets'' means the numerical ceilings prescribed. ,in either 'absolutes (in Rupeecrores)or as proportions to the Gross Domestic Product or other magnitudes for the fisca! indicators; (h) "guarantees" means the liabilities undertaken by State Public Sector Undertakings where servicing and repayment liabilities fall on the State Government iu the event of default by the primary borrower; (i) "prescribed'' means prescribed by the rules made under thi! Act; • i :. "- ,. _, V · (j) ''previous year" ?eans ·the year preceding the current ?yea.-;·' ... . . . ? .. - : .... ·\1d · "revenu,i.deficir" means .. !he amount of excess · of revenue :expendi- ,.. Jure ov?r. revenue ·;cceiptsin. a jwap?ial year; ' .r r - .. .? .. ,.. ..4. . ' '• . :: ...;. (1) "State" means the State of Manipur; (m) "State's. Own Tax Revenue" means ?h?, total, ? r?aQa pf ;jJ(o · ' State elcludi?gthe State's Share in. (;?t;?l'.I'a;o.?;. .· . .J . ; ,/i 3 . --<?) -"?tl\h revenue receipts" .means the S?te's ow,a rev?? r?ipta . (both tax and non-ta?)'and -?u'rr?nttransf?rs fro; .,b(J ? _ ., (comp_ri_siDJ grantsan????te:?sµ,re .of CCllt!•lt?es);i. , ••_::::;,i.>D"l {'o>?-·?otlll- liabilities" means the sum of the Iiabilitiea.uader the C?molidan ed Fund of the State, and tho Public Account of the: iSJato.;?,: j? -fiscaf .-in?nagetncntobjectives.c-, The State Government ihall? ;. (a) '.:take appropriate . measures to remain r?verl'fie.;fj<>sitivo anti ')build up: adequate revenudurplus and contain flie:ftscaHi?ficit>tt a- s,?. nable level, and utilize such surplus for discharging-'the' HabilitiCJ .in excess of the a$1ic,ts or for funding. capit?l- expenditure; . ,....... . ,, ... ,.... ..·, . (b) pursue policies to raise non-tax revenue with regard to cost recovery and equity ; and (c) lay down norms for prioritization of capital expenditure, and pursue expenditure policies that would provide iniP.?tusfor economic growth.