Vidhi Codex

Bare Act

The Rajasthan Fiscal Responsibilities and Budget Management Act, 2005

Finance200515 sections

The Rajasthan Fiscal Responsibility and Budget Management Act, 2005 regulates the financial management, spending, and debt limits of the Rajasthan State Government. It applies directly to the state government, its finance department, and state public sector entities. The law mandates long-term financial planning, public transparency, and strict targets to eliminate revenue deficits, control fiscal deficits, and cap total government debt and guarantees. It also establishes a dedicated development fund for growth and poverty alleviation schemes. This legislation matters because it enforces fiscal discipline, prevents unsustainable government borrowing, and ensures responsible governance of public taxpayer money across Rajasthan.

Start reading →Read full ActSections
  1. 1. Short title, extent and commencement.
  2. 2. Definitions.
  3. 3. Fiscal Management Objectives.
  4. 4. Fiscal Management Principles.
  5. 5. Fiscal Policy Statement to be laid before the Legislature.
  6. 6. Fiscal Management Targets.
  7. 6A. Rajasthan Development and Poverty Alleviation Fund.
  8. 7. Measures for fiscal Transparency.
  9. 8. Public Expenditure Review Committee.
  10. 9. Measures to enforce compliance.
  11. 10. Power to make rules.
  12. 11. Rules to be laid before the State Legislature.
  13. 12. Protection of action taken in good faith.
  14. 13. Application of other laws not barred.
  15. 14. Power to remove difficulties.

PDF: pending for this language.