Amendment status not verified — confirm the current text below against the official source.
Definitions. In this Act, unless the context otherwise requires- (a) "Budget" means the Annual Financial Statement laid before the Legislative Assembly under Article 202 of the Constitution; (b) "Current Year" means the financial year preceding the ensuing year; (c) "Ensuing Year" means the financial year for which the budget is being presented; (d) "Financial Year" means the year beginning on the 1st April and ending on the 31st March next following; (e) "Fiscal Deficit" means the excess of – total disbursements from the Consolidated Fund of the State (excluding repayment of debt) over total receipts into the Consolidated Fund excluding the debt receipts during a financial year; (f) "Fiscal Indicators" means the measures such as numerical ceilings and proportions to Gross State Domestic Product, as may be prescribed, for evaluation of the fiscal position of the State Government; (g) "Previous Year" means the financial year preceding the current year; (gg) “Revenue Deficit” means the excess of revenue expenditure over revenue receipt; 2 (h) "Total Liabilities" means the liabilities under the Consolidated Fund of the State and the Public Account of the State.