Measures for fiscal transparency.

(1) The State Government shall take suitable measures to ensure greater transparency in its fiscal operations and minimize, as far as practicable, in the public interest, secrecy in the preparation of the Budget. (2) In particular, and without prejudice to the generality of the foregoing provision, the State Government shall, at the time of presentation of the Budget, make disclosures on the following along with detailed information in such form as may be prescribed:- (a) the significant changes in the accounting standards, policies and practices affecting the computation of prescribed fiscal indicators; and (b) as details of borrowings, including ways and means advances availed of from the Reserve Bank of India. (3) Whenever the State Government undertakes to unconditionally and substantially repay the principal amount and/or pay the interest of any of its borrowings, it has to reflect such liability as the borrowings of the State.