Vidhi Codex

The West Bengal Fiscal Responsibility and Budget Management (Amendment) Act, 2024

The West Bengal Fiscal Responsibility and Budget Management (Amendment) Act, 2024

Finance20243 sections

The West Bengal Fiscal Responsibility and Budget Management (Amendment) Act, 2024 amends the state's primary financial management law to adjust government borrowing limits. Applying directly to the Government of West Bengal, this law establishes that the state's maximum fiscal deficit for the 2023–24 financial year is set at 3.5 percent of its Gross State Domestic Product. This amendment matters because it provides the state government with legally defined boundaries for public spending and debt management, ensuring fiscal discipline while accommodating necessary economic expenditure for that specific financial year.

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  1. 0. Preamble
  2. 1. Short title and commencement.
  3. 2. In the West Bengal Fiscal Responsibility and Budget Management Act, 2010, in section 4, in sub-section (2), after the sixth proviso, the following proviso shall be inserted:

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