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THE JAMMU AND KASHMIR FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT ACT, 2006

Jammu and Kashmir

An Act to provide for the responsibility of the Government to ensure prudence in fiscal management and fiscal stability by progressive strengthening of revenue surplus, reduction in fiscal deficit, prudent debt management consistent with fiscal sustainability, greater transparency in fiscal operations of the Government and conduct of fiscal policy in a medium term framework and for matters connected therewith or incidental thereto.

Act number
12 of 2006
Department
Finance
Enacted
9 Aug 2006
In force from
14 Aug 2006

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

16 sections

  1. Section 1Short title and commencement.
  2. Section 2Definitions
  3. Section 3Fiscal Management Objectives.
  4. Section 4Fiscal Management Principles.
  5. Section 5Fiscal Policy Statements to be laid before the Legislature of the Union territory of Jammu and Kashmir.
  6. Section 6Macroeconomic Framework Statement
  7. Section 7Medium Term Fiscal Policy Statement.
  8. Section 8Fiscal Policy Strategy Statement
  9. Section 9Fiscal Targets.
  10. Section 10Measures for Fiscal Transparency.
  11. Section 11Measures of Enforce Compliance.
  12. Section 12Power to make rules.
  13. Section 13Rules to be laid before Legislature.
  14. Section 14Protection of action taken in good faith.
  15. Section 15Application of other laws not barred.
  16. Section 16Power to remove difficulties.