Vidhi Codex

The Mizoram Fiscal Responsibility and Budget Management (Second Amendment) Act, 2010

The Mizoram Fiscal Responsibility and Budget Management (Second Amendment) Act, 2010

Finance20105 sections

This Act amends the Mizoram Fiscal Responsibility and Budget Management Act to strengthen fiscal discipline by setting a clear target to reduce the fiscal deficit to three percent of Gross State Domestic Product by 2014-15. It mandates specific annual reduction rates to achieve this goal and requires the government to establish an independent monitoring system to ensure compliance. Additionally, the legislation modifies the rules for the Asset Register, allowing it to be based on departmental records until a full accrual accounting system is adopted. This ensures better financial management and accountability in the state's budgeting process.

Start reading →Read full ActSections
  1. 1. Short title, extent and Commencement
  2. 2. Amendment of Section 6 of the Principal Act
  3. 3. Amendment of Sub-section (3) of Section 7 of the Principal Act
  4. 4. Amendment of Section 9 of the Principal Act
  5. 0. Preamble

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