section 2
Amendment ofSeetion9:Section9clause 2 sub-clause (i) ofthePrincipalAct shallbe substitutedby the following-
The Nagaland Fiscal Responsibility and Budget Management (Amendment) Act, 2011"Incur zerorevenue deficitorachieverevenue surplusduring each of theyears 2010-11,2011-12 2012-13-2013-14 and 2014-15;"
Section 9 clause2 sub-clause (ii)ofthePrincipalAct shall be substitutedby the following:-
"Achieve fiscal deficit of3%of projectedGross StateDomestic Product (GSDP) by theyearending3l"March2015. TheFiscalDeficitpathfortheState shallbe 3.5% of projected GSDP for the years 2011-12 and 2012-13 and 3% of Projected GSDP fortheyears 2013-14 and 2014-15;"
Section9clause2sub-clause(iii)of the PrincipalActshallbe substitutedby the following:-
"Reduce the debt to GSDP ratio and achievethe following targets-56.8% in 2010-1 1,55.8%in2011-12,54.9%in2012-13,53.5%in2013-14and 52.3% in2014-15;"
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