Bare ActsThe Nagaland Fiscal Responsibility and Budget Management (Amendment) Act, 2011

Section 2

Amendment status not verified — confirm the current text below against the official source.

Amendment of Seetion 9:- Section 9 clause 2 sub-clause (i) ofthe Principal Act shall be substituted by the following- "Incur zero revenue deficit or achieve revenue surplus during each of the years 2010-11,2011-12 2012-13-2013-14 and 2014-15;" Section 9 clause2 sub-clause (ii) ofthe Principal Act shall be substituted by the following:- "Achieve fiscal deficit of 3% of projected Gross State Domestic Product (GSDP) by theyear ending 3 l"March2015. TheFiscal Deficitpath forthe State shall be 3.5% of projected GSDP for the years 201 1-12 and 2012-13 and 3% of Projected GSDP forthe years 2013-14 and 2014-15;" Section 9 clause 2 sub-clause (iii) of the Principal Act shall be substituted by the following:- "Reduce the debt to GSDP ratio and achieve the following targets - 56.8% in 2010-1 1,55.8% in2011-12,54.9%in2012-13,53.5% in2013-14and 52.3% in2014-15;"

Section 2 – The Nagaland Fiscal Responsibility and Budget Management (Amendment) Act, 2011 | DailyLaw.ai