Principles of Fiscal Management

The State Government shall be guided by the following principles of fiscal management, namely:- (a) transparency in implementation of public policy in setting fiscal policy objectives and in disclosing fiscal information that would enable the public to oversee the operation of fiscal policy and public finance; (b) stability and predictability in fiscal policy making; (c) accountability in public finance management, including integrity in budget making; (d) ensuring such fairness that policy decisions of the State Government take into account the financial impact on future generations; and (e) efficiency in formulation and implementation of fiscal policy.