Vidhi Codex

Bare Act

The Nagaland Fiscal Responsibility and Budget Management Act, 2005

Finance200517 sections

This law governs the financial management of the Nagaland State Government to ensure fiscal stability and prudence. It requires the government to maintain a revenue surplus, control fiscal deficits, and manage debt sustainably. By mandating transparency and a medium-term framework, the Act aims to promote economic growth and human welfare. The government must present specific fiscal policy statements to the state legislature each year to track progress against these financial targets. Ultimately, the legislation ensures that public funds are used responsibly and that the state's long-term financial health is protected.

Start reading →Read full ActSections
  1. 0. Preamble
  2. 1. Short title & commencement
  3. 2. Defmitions
  4. 3. Fiscal management objectives
  5. 5. Fiscal policy statement to be laid before the Legislature
  6. 6. Macroeconomic framework statement
  7. 7. Medium term fiscal policy statement
  8. 8. Fiscal policy strategy statement
  9. 9. Fiscal targets
  10. 10. Measures for fiscal transparency
  11. 11. MEASURES TO ENFORCE COMPLIANCE
  12. 12. PENALTIES:
  13. 13. POWER TO MAKE RULES
  14. 14. RULES TO BE LAID BEFORE LEGISLATURE
  15. 15. PROTECTION OF ACTION TAKEN IN GOOD FAITH
  16. 16. APPLICATION OF OTHER LAWS NOT BARRED
  17. 17. POWER TO REMOVE DIFFICULTIES

PDF: pending for this language.