Definitions.

In this Act, unless the context otherwise requires,-

1. (a) "budget" means the annual financial statement laid before both Houses of the State Legislature under article 202 of the Constitution of India ;
2. (b) "financial year" means the year beginning on the 1st April and ending on the 31st March of the next following year ;
3. (c) "fiscal deficit" means excess of total expenditure of State Government over the total non-debt receipt, and thus represents those borrowing requirements, net of repayment during the year which needs to be serviced by way of interest and principal repayment ;
4. (d) "fiscal indicators" means the measures such as numerical ceilings, as may be prescribed, for evaluation of the fiscal position of the State Government ;
5. (e) "Government" or "State Government" means the Government of Maharashtra ;
6. (f) "prescribed" means prescribed by rules made under this Act ;
7. (g) "revenue deficit" means the difference between total revenue expenditure and total revenue receipts ;
8. (h) "rules" means rules made under this Act ;
   • (i) "State" means the State of Maharashtra ;
9. (j) "total liabilities" means liabilities under the Consolidated Fund of the State and the Public Account of the State.