Mizoram Fiscal Responsibility and Budget Management (Amendment) Act, 2011

Mizoram Fiscal Responsibility and Budget Management (Amendment) Act, 2011

This Act amends the Mizoram Fiscal Responsibility and Budget Management Act to set specific annual targets for reducing the state's fiscal deficit as a percentage of its Gross Domestic Product. It applies to the government of Mizoram and mandates a gradual reduction schedule, requiring the deficit to drop from 7.5 percent in 2010-11 to 3.0 percent by 2014-15. This measure matters because it enforces fiscal discipline, ensuring the state government manages its finances responsibly and works towards a sustainable economic balance over a five-year period.

PDF: pending for this language.