Measure for Fiscal Transparency

1. (1) The State Government shall take suitable measures to

ensure greater transparency in its fiscal operations in the public interest and minimize as far as practicable, secrecy in the preparation of the budget.

1. (2) In particular, and without prejudice to the generality of the foregoing provisions, the State Government shall, at the time of presentation of the budget, make disclosures on the following, along with detailed information in such forms as may be prescribed: fcgkj xTkV ¼vlk/kkj.k½] 5 vizhy] 2006
   • (a) the significant changes in the accounting standards, policies and practices affecting or likely to affect the computation of fiscal indicators;
   • (b) details of borrowings by way of Ways and Means Advances/Overdraft availed of from the Reserve Bank of India;
   • (c) the number of employees in government, public sector, and aided institutions and related salaries.
2. (3) Whenever the State Government undertakes to unconditionally and substantially repay the principal amount and/or pay the interest of any separate legal entity, it has to reflect such liability as the borrowings of the State.