Preamble

– 1 – GOVERNMENT OF GOA Department of Law & Judiciary (Legal Affairs Division) ______ Notification 7/8/2006-LA The Goa Fiscal Responsibility and Budget Management Act, 2006 (Goa Act 12 of 2006), which has been passed by the Legislative Assembly of Goa on 23-3-2006 and assented to by the Governor of Goa on 10-5-2006, is hereby published for general information of the public. Sharad G. Marathe, Joint Secretary (Law). Panaji, 15 th May, 2006. ______ The Goa Fiscal Responsibility and Budget Management Act, 2006

(Goa Act 12 of 2006) [10-5-2006]

AN ACT to provide that it shall be the responsibility of the State Government to ensure fiscal stability and sustainability through progressive elimination of revenue deficit and planned reduction of fiscal deficit and prudent and sustainable debt management consistent with fiscal stability through limits on State Government’s borrowings, including off-budget borrowing and achieving greater transparency in fiscal operation of the Government and conduct of fiscal policy in a medium term fiscal framework and for matters connected therewith or incidental thereto. Be it enacted by the Legislative Assembly of the State of Goa in the Fifty-seventh Year of the Republic of India as follows:—