Definitions.

In this Act, unless the context otherwise requires,—

1. (a) “budget” means the annual financial statement laid before the Legislative Assembly under article 202 of the Constitution of India;
2. (b) “current year” means the financial year preceding the ensuing year;
3. (c) “ensuing year” means the financial year for which the budget is being presented;
4. (d) “financial year” means the year beginning on the 1 st April and ending on st March next following;
5. (e) “fiscal deficit” means the excess of,—
   • (i) total disbursements from the Consolidated Fund of the State (excluding repayment of debt) over total receipts into the Consolidated Fund excluding the debt receipts during a financial year;
   • (ii) total expenditure from the Consolidated Fund of the State (including loans and advances but excluding debt repayment) over own tax and non-tax revenue receipts, devolution and other grants from the Government of India to the State, and non-debt capital receipts during a financial year which represents the borrowing requirements, net of repayment of debt of the State Government during the financial year;
6. (f) “fiscal indicators” means the measures such as numerical ceilings and proportions to gross State domestic product, as may be prescribed, for evaluation of the fiscal position of the State Government;
7. (g) “Government” means the Government of Goa;
8. (h) “Legislative Assembly” means the Legislative Assembly of the State of Goa;
   • (i) “prescribed” means prescribed by rules made under this Act;
9. (j) “revenue deficit” means the difference between revenue expenditure and revenue receipts;
10. (k) “State” means the State of Goa;
11. (l) “total liabilities” means the liabilities under the Consolidated Fund of the State and the Public Account of the State.