Andhra Pradesh Fiscal Responsibility and Budget Management Act, 2005
Andhra Pradesh Fiscal Responsibility and Budget Management Act, 2005
Finance200517 sections
The Andhra Pradesh Fiscal Responsibility and Budget Management Act, 2005 establishes a legal framework to ensure financial discipline and long-term fiscal stability in the state. Applying to the Andhra Pradesh State Government, the law mandates prudent budget management, reduction of revenue deficits, and controlled public borrowing. It requires the government to present annual macroeconomic policy statements to the legislature to guarantee fiscal transparency. This Act matters because it ensures responsible public spending, holds leaders accountable for financial decisions, and protects the state's economic future for citizens.
- 0. Preamble
- 1. Short title and commencement
- 2. Definitions
- 3. Fiscal Management Objectives
- 4. Fiscal Management Principles
- 5. Fiscal Policy Statements to be laid before the Legislature
- 6. Macro-economic Framework Statement
- 7. Medium Term Fiscal Policy Statement
- 8. Fiscal Policy Strategy Statement
- 9. Fiscal Targets
- 10. Measures for Fiscal Transparency
- 11. Measures to enforce compliance
- 12. Protection of action taken in good faith
- 13. Application of other laws not barred
- 14. Power to remove difficulties
- 15. Power to Make Rules
- 16. Repeal of Ordinance No. 9 of 2005
PDF: pending for this language.