The Maharashtra Fiscal Responsibility and Budgetary Management Act, 2005

The Maharashtra Fiscal Responsibility and Budgetary Management Act, 2005

The Maharashtra Fiscal Responsibility and Budgetary Management Act of 2005 regulates the financial operations, deficit levels, and borrowing limits of the Maharashtra state government. Applying directly to the state's administration and its finance department, this law mandates transparent budget planning and sets strict targets to reduce and eliminate revenue deficits. This legislation matters to the public because it enforces fiscal discipline, prevents excessive debt accumulation, and requires the government to present clear policy statements and quarterly progress reviews to the legislature. Ultimately, it ensures long-term economic stability and keeps government spending directly accountable to the citizens.

PDF: pending for this language.