Ceiling on Government Guarantees

General20259 sections

Statutory text

(1) The Total Outstanding government guarantees as on the first day of April of any year shall not exceed 10 percent of the Gross State Domestic Product
- (GSDP) estimated for the year.
(2) The Total fresh government guarantees issued in a year shall not exceed 5 percent of the Revenue Receipts or 0.5 per cent of Gross State Domestic Product
- (GSDP) estimated for the year, whichever is less. Provided that under extreme exigencies and occurrence of natural calamities of the order which require the Government to take immediate fiscal policy measures, the Government may exceed the ceilings prescribed under sub-section
(1) and (2).

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