Bare Act

The State and Fiscal Responsibility Budget Management Act 2005

The Madhya Pradesh Fiscal Responsibility and Budget Management Act of 2005 regulates the state government's financial planning, budget management, and borrowing practices. It applies specifically to the State Government of Madhya Pradesh. This law matters because it ensures long-term fiscal stability and transparency by forcing the government to systematically reduce its revenue and fiscal deficits, meet specific debt targets, and present regular economic reports to the legislature. By promoting prudent debt management and public accountability, the act protects future generations from unfair financial burdens and ensures state spending is directed toward public welfare, poverty reduction, and steady economic growth.

PDF: pending for this language.