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The Jharkhand Fiscal Responsibility and Budget Management (Amendment) Act, 2012

The Jharkhand Fiscal Responsibility and Budget Management (Amendment) Act, 2012

Finance20124 sections

This law regulates the financial discipline of the state government of Jharkhand, applying to the entire state. It matters to the citizens because it forces the government to manage its budget responsibly and avoid excessive public debt. Specifically, this amendment requires the state government to completely eliminate its revenue deficit by March 31, 2012, and maintain a zero deficit until March 2015. Additionally, it caps the state's overall fiscal deficit at three percent of Jharkhand’s gross state domestic product. Ultimately, this promotes regional economic stability and ensures that public funds are managed properly without any future excessive state government overspending.

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  1. 0. Preamble
  2. 1. Short title extent and commencement;
  3. 2. Amendment in Section 5(1)(a) and 5(1)(b) of Jharkhand Fiscal Responsibility and Budget Management Act, 2007.
  4. 3. Repeal and Saving : -

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