Amendment status not verified — confirm the current text below against the official source.
The State Government shall,- (a) take appropriate measures to eliminate the revenue deficit and thereafter build up adequate revenue surplus and contain the fiscal deficit at a sustainable level and utilize 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 prioritisation of capital expenditure and pursue expenditure policies that would provide impetus for economic growth, poverty reduction and improvement in human welfare.