Fiscal Management Targets.

In particular and without prejudice to the generality of the foregoing provisions, the State Government shall -

(a) achieve zero revenue deficit target from financial year 2011-12 and thereafter maintain it or attain revenue surplus;

(b) achieve fiscal deficit of 3 percent of Gross State Domestic Product by financial year 2011-12 and thereafter maintain the said ratio or reduce it;

(c) restrict its total outstanding debt up to 38.2 per cent of Gross State Domestic Product within a period of six years, beginning from the 1st day of April 2020, and ending on the 31st day of March 2026 and thereafter maintain the said ratio or reduce it;

(d) ensure to bring out annual statement giving prospects for the State economy and related fiscal strategy;

(e) ensure to bring out special statement along with the budget giving in detail number of employees in Government, Public Sector and Aided institutions and related salary;

(f) ensure that total outstanding Government Guarantee on 31.03.2017 shall not exceed 70 per cent of estimated receipts in the Consolidated Fund of State in financial year 2016-17 and thereafter, total outstanding Government Guarantee at the end of each financial year shall not exceed 60 per cent of estimated receipts in the Consolidated Fund of State in that financial year:

Provided that revenue deficit and fiscal deficit may exceed the limits specified under this section-

(a) due to ground or grounds of unforeseen demands on the finances of the state Government arising out of national security or natural calamity including drought relief or such other exceptional circumstances beyond the control of the State Government; or

(b) due to developmental and other unavoidable expenditure; or

(c) up to the limits indicated by the Central Government from time to time; or

(d) due to take-over of loans of the Power Distribution Companies and interest thereon under the Ujwal DISCOM Assurance Yojana promulgated by the Government of India in the Ministry of Power vide Office Memorandum No. 06/02/2015-NEF/FRP dated 20th November, 2015; or

(e) due to additional borrowing limit allowed by the Central Government on account of Covit-19 pandemic; or

(f) due to additional borrowing of 0.50 per cent of Gross State Domestic Product, allowed by Central Government based on performance criteria in the power sector and/or for any other specific purpose:

Provided further that the excess beyond limits arising due to the grounds mentioned in the first proviso shall be explained with a detailed statement on the said grounds, as soon as possible, before the House of the State Legislature.