Amendment status not verified — confirm the current text below against the official source.
Measures to enforce Compliance – (1) The Annual Budget and policies announced at the time of the Budget shall be consistent with objectives and targets specified the Medium Term Fiscal Plan for coming years. 1[(1-a) The State Government shall issue appropriate guidelines from time to time, for timely spending of budgetary grants]; (2) the Minister –in-charge of Finance Department shall review the trends in receipts and expenditure in relation to the budget and remedial measures to be taken to achieve the budget targets. 2[(2-a) For the purpose of ensuing compliance of the provisions of this Act, the State Government shall entrust an agency independent of the State Government interference, who shall periodically make review of such compliance and submit a report to that effect to that Government who shall cause every such report to be laid, as soon as may be after it is received, before the State Legislature]; and (3) Whenever there is either short fall in revenue or excess of expenditure over pre-specified levels during any period in a financial year, on account of any new policy decision of the State Government that affects the State Government, the State Government prior to taking such policy decision, shall take measures to fully offset the fiscal impact for the current and future years by curtailing the sums authorised to be paid and applied from and out of the Consolidated Fund of the State under any Act to provide for the appropriation of such sums, or by taking interim measures for revenue augmentation or by taking up a combination of both: Provided that nothing in this sub-section shall apply to expenditure charged on the Consolidated Fund of the State under clause (3) of article 202 of the Constitution. (4) In case the revenue deficit and fiscal deficit exceed in the case of unforeseen demands on the finances of the State Government, the Government shall identify the net fiscal cost of the calamity and such cost would provide ceiling for extent of non-compliance to the specified limits. 1 Inserted vide Section.4(i) of the Odisha Fiscal Responsibility and Budget Management (Amendment) Act, 2011 published vide Odisha Gezette Extraordinary No.170/01.02.2012 Odisha Act 1 of 2012. 2 Inserted vide Section.4(ii) of the Odisha Fiscal Responsibility and Budget Management (Amendment) Act, 2011 published vide Odisha Gezette Extraordinary No.170/01.02.2012 Odisha Act 1 of 2012. 8 (5) Not more than one Supplementary Statement of expenditure shall be presented in a financial year. Whenever such Supplementary estimates are presented before the State Legislature, the State Government shall also present an accompanying statement indicating the corresponding curtailment of expenditure to fully offset the fiscal impact of the Supplementary estimates in relation to the budget targets of the current year and the Medium Term Fiscal Plan objectives. 1[Provided that where expenditure has been made by taking advance from the Orissa Contingency Fund, special supplementary statements of expenditure shall be presented in course of the year exclusively for the purpose of recoupment of such advance]. (6) No liability shall be created outside the budget provision in a financial year without the approval of Government in Finance Department. Creation of any such unauthorized liability shall be treated as gross negligence and the officer(s) responsible for creation of such liability shall be personally liable for such additional liability created.