The Manipur Fiscal Responsibility and Budget Management (Second Amendment) Act, 2021

Finance20213 sections

The Manipur Fiscal Responsibility and Budget Management (Second Amendment) Act, 2021 modifies state financial rules governing government borrowing and deficit limits in Manipur. Applying to the Manipur state government and its financial administrators, this law retroactively adjusts fiscal boundaries for recent financial years. Specifically, it allows an additional borrowing limit of 363 crore rupees for the 2019-20 financial year and grants eligibility for extra borrowing of up to two percent of the Gross State Domestic Product for 2020-21. This measure matters because it legally empowers the state government to raise crucial extra funds to address financial pressures during economic disruptions while formally replacing temporary ordinances with permanent legislation.

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1. Short title, extent and commencement
2. Amendment of Section 4
3. Repeal and savings

PDF: pending for this language.