Bare Act

The Nagaland Fiscal Responsibility and Budget Management (Amendment) Act, 2011

This amendment amends the Nagaland Fiscal Responsibility and Budget Management Act, 2005 to set stricter fiscal targets for the state. It establishes specific targets including zero revenue deficit or revenue surplus for 2010-11 through 2014-15, achieving a fiscal deficit of 3% of projected Gross State Domestic Product by March 2015 (with 3.5% for 2011-12 and 2012-13), and reducing the debt-to-GDP ratio to 52.3% by 2014-15. The law compels the state government to maintain long-term fiscal sustainability, prevent excessive borrowing, and manage public finances responsibly for the state.

PDF: pending for this language.