MANAGEMENT ACT, 2005
The Andhra Pradesh Fiscal Responsibility and Budget Managment Act, 2005
The Andhra Pradesh Fiscal Responsibility and Budget Management Act, 2005 requires the state government to maintain sound financial management, control public debt, and reduce fiscal deficits. It mandates that the government present key fiscal policy and macroeconomic framework statements to the state legislature alongside the annual budget. By setting specific financial targets and enforcing transparency, the law ensures responsible spending of public funds. This legislation applies directly to the Andhra Pradesh State Government. It matters to citizens because prudent financial planning prevents unmanageable debt, safeguards taxpayer money, and promotes sustainable economic growth across the state.
- 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. Statement, in such form as may be prescribed, shall contain an overview of the State economy, an analysis of growth and sectoral composition of GSDP, an assessment related to State Government finances and future prospects.
- 8. Fiscal Policy Strategy Statement
- 9. Fiscal Targets
- 10. House or Houses of the Legislature, as soon as maybe, after such deficit amount exceeds the aforesaid targets.
- 11. State.
- 12. Protection of action taken in good faith
- 13. Application of other laws not barred
- 14. Power to remove difficulties
- 15. Provided that no order shall be made under this section after the expiry of two years from the commencement of this Act.
- 16. Repeal of Ordinance No. 9 of 2005
PDF: pending for this language.