Bare Act
The Mizoram Fiscal Responsibility and Budget Management Act, 2006
The Mizoram Fiscal Responsibility and Budget Management Act, 2006, is a legislative framework designed to ensure the financial health of the State of Mizoram. It mandates that the government manage public finances with transparency, stability, and responsibility. The Act requires the government to set clear fiscal targets, specifically aiming to eliminate revenue deficits and contain fiscal deficits within sustainable limits. By requiring the government to present detailed fiscal policy statements and conduct regular expenditure reviews, the Act ensures accountability. For the ordinary citizen, this law acts as a safeguard against reckless government spending, promoting long-term economic stability and sustainable development.
- 1. Short title, extent and commencement
- 2. Definitions
- 3. Fiscal Management Objectives
- 4. Fiscal Management Principles
- 5. Fiscal Policy Statement to be laid before the Legislature
- 6. Fiscal Management Targets
- 7. Measures for Fiscal Transparency
- 8. Public Expenditure Review Committee
- 9. Measures to enforce compliance
- 10. Power to make rules
- 11. Rules to be laid before the State Legislature
- 12. Protection of action taken in good faith
- 13. Application of other laws not barred
- 14. Power to remove difficulties
PDF: pending for this language.