Section 3. Fiscal Management Objectives

The State Government shall - (a) Undertake appropriate measures to facilitate generation revenue surplus, contain BCR and reduce fiscal deficit in a phased manner and thereafter building up adequate surplus revenue and to utilize the same for the purpose of discharging the liabilities or for developmental expenditures; (b) Pursue policies to raise non tax revenue with due emphasis on cost recovery and equity; (c) Lay down norms to prioritize capital expenditure and to pursue expenditure policies that would provide impetus for economic growth with social equity and improvement in poverty reduction and human welfare.