Amendment of Section 6 of the Principal Act

(1) Clause (2) of Section 6 of the Principal Act shall be substituted by the following, namely :- “reduce fiscal deficit to 3 per cent of the estimated Gross State Domestic Product by 2014-15”. (2) In clause (4) of Section 6 of the Principal Act, the following shall be substituted, namely :- “(4) reduce fiscal deficit annually at a percentage of Gross State Domestic Product so as to reach the goal set out in clause (2) with the following rates of annual reduction - 6.4% in 2011-12, 5.2% in 2012-13, 4.1% in 2013-14 and 3% in 2014-15”.