Amendment status not verified — confirm the current text below against the official source.
Fiscal management objectives: The State Government shall: a) take appropriate measures to remain revenue positive and build up adequate revenue surplus and contain the fiscal deficit at a sustainable level, andutilize such surplus for discharging the liabilities in excess of the assets or for funding capital expenditure; b) pursue policies to raise non-tax revenue with due regard to cost recovery and equity; and c) lay down norms for prioritization of capital expenditure, and pursue expenditure policies that would provide impetus for economic growth, poverty reduction and improvement in human welfare. 4 Fiscal management principles: The State Government shall be guided by the following fiscal management principles, namely:- a) transparency in setting the fiscal policy objectives, the implementation of public policy and the publication of fiscal information so as to enable the public to scrutinize the conduct of fiscal policy and the state of public finances; b) stability and predictability in fiscal policy making process and in the way fiscal policy impacts the economy; c) responsibility in the management of public finances, including integrity in budget formulation; d) fairness to ensure that policy decisions of the State Government have due regard to their financial implications in future generations; and e) eficiency in the design and implementation of the fiscal policy and in managing the assets and liabilities of the public sector balance sheet.