Amendment status not verified — confirm the current text below against the official source.
In the Odisha Fiscal Responsibility and Budget Management Act, 2005, after the second proviso to section 5, the following provisos shall be Odisha Act, 6 of 2005. inserted, namely:- - "Provided also that for any given financial year for which the borrowing limits are to be fixed if the debt-GSDP ratio is less than or equal to 25 per cent in the preceding financial year, the fiscal deficit may go up further by 0.25 per cent on the GSDP, when there is no revenue deficit in the said year and the immediate preceding financial year : The Odisha G a z e t t e 43 Provided also that for a given financial year for which the borrowing limits are to be fixed if the interest payments are less than or equal to 10 per cent of the revenue receipts in the preceding financial year, the fiscal deficit may go up further by 0.25 per cent on the GSDP, when there is no revenue deficit in the said year and the immediate preceding financial year: Provided also that if the Central Government requires the State Government to take over the debt of any State Public Sector Undertaking or Utility in a particular financial year, the fiscal deficit limit as fixed in this section may go up by the amount of debt taken over by the State Government in that financial year.". By Order of the Governor B. P. ROUTRAY Principal Secretary to Government Printed and published by the Director, Printing, Stationery and Publication, Odisha, Cuttack-10 OGP/SBP., Ex.Gaz.No.1414-173+480 44 EXTRAORDINARY PUBLISHED BY AUTHORTY No. 819, CUTTACK, TUESDAY, APRIL 25, 2017 / BAISAKHA 5, 1939 FINANCE DEPARTMENT NOTIFICATION The 19th April, 2017 S.R.O. No. 184 / 2017 – In exercise of powers conferred by sub-section (2) of Section 1 of the Odisha Fiscal Responsibility and Budget Management (Amendment) Act, 2016 (Odisha Act 12 of 2016) the State Government do hereby appoint the 5th November, 2016 as the date on which the said Act shall come into force. [NO. 13309-FIN-BUD1-FRBM-0002/2016/FIN.] By Order of the Governor SATYAPRIYA RATH Deputy Secretary to Government Printed and published by the Director, Printing, Stationery and Publication, Odisha, Cuttack-10 Ex.Gaz.No.147-173+400 The Odisha G a z e t t e 45 46 EXTRAORDINARY PUBLISHED BY AUTHORTY No. 820, CUTTACK, TUESDAY, APRIL 25, 2017 / BAISAKHA 5, 1939 FINANCE DEPARTMENT NOTIFICATION The 19th April, 2017 S.R.O. No. 185 / 2017 -- In pursuance of the clause (h) of section 5 of the Odisha Fiscal Responsibility and Budget Management Act, 2005 (Odisha Act 6 of 2005) and pursuant to the recommendation of the Fourteenth Finance Commission at para-14.64 (i) of their report, the State Government do hereby fix the limit of debt GSDP ratio for the years 2015-16 to 2019-20 as “less than or equal to twenty-five percent”. [NO. 13312-FIN-BUD1-FRBM-0002/2016/FIN.] By Order of the Governor SATYAPRIYA RATH Deputy Secretary to Government Printed and published by the Director, Printing, Stationery and Publication, Odisha, Cuttack-10 Ex.Gaz.No.148-173+400 The Odisha G a z e t t e APPENDIX‐VI 47