Amendment status not verified — confirm the current text below against the official source.
Measures for fiscal transparency: (1) The State Government shall take suitable measures to ensure greater transparency in its fiscal operation in the public interest and minimize, as far as practicable, secrecy in the preparation of the budget. (2) In particular, and without prejudice to the generally of the foregoing provisions, the State Government shall, at the time of presentation of the budget, make disclosures on the following along with detailed information in such forms as may be prescribed: i) the significant changes in the accounting standard, policies and practices affecting or likely to affect the computation of fiscal indicators; ii) details of borrowings by Way of Ways and Means AdvancesIOverdraft availed of fiom the Reserve Bank of India. (3) Whenever the State Government undertakes to unconditionally and substantially repay the principal amount andlor pay the interest of any separate legal entity, it has to reflect such liability as the borrowings of the State. -194-