Bare Act

Uttarakhand Ceiling On Government Guarantee Act, 2016

This Act regulates the financial limits and conditions for government guarantees issued by the state of Uttarakhand. It applies to the state government and its various departments, public sector undertakings, and local authorities. The law sets strict caps on the total amount of outstanding guarantees and new guarantees issued each year, limiting them to a small percentage of the state's Gross Domestic Product. It also prohibits guarantees for private companies or individuals. This measure is important because it prevents the state from overextending its financial obligations and ensures fiscal discipline while allowing for emergency exceptions during natural disasters.

PDF: pending for this language.