Bare Act

The Manipur Fiscal Responsibility and Budget Management (Amendment) Act, 2017

This Act amends Manipur's fiscal framework to regulate state government borrowing and maintain long-term financial stability. It applies to the State Government of Manipur and governs how much money the state can borrow relative to its total economic output. The law sets a standard cap on the state's annual fiscal deficit at three percent of its Gross State Domestic Product. However, it allows the government conditional flexibility to borrow up to an absolute maximum of three point five percent if the state maintains low overall debt, low interest burdens, and avoids revenue deficits. This law ensures responsible governance and fiscal discipline while allowing prudent spending.

PDF: pending for this language.