THE ARUNACHAL PRADESH FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2024.

{
    "id": 2851,
    "slug": "arunachal-pradesh-fiscal-responsibility-and-budget-management-amendment-act-2024",
    "title": "THE ARUNACHAL PRADESH FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2024.",
    "short_title": "The Arunachal Pradesh Fiscal Responsibility and Budget Management (Amendment) Act, 2024",
    "act_number": "6",
    "act_year": 2024,
    "act_type": "STATE",
    "location": "Arunachal Pradesh",
    "law_status": "amended",
    "enactment_date": "2024-02-23",
    "description": "The Arunachal Pradesh Fiscal Responsibility and Budget Management (Amendment) Act, 2024",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "An ACT",
            "chapter": null,
            "content": "An\nAct\nfurther to amend the Arunachal Pradesh Fiscal Responsibility and Budget Management\nAct, 2006 (Act No. 4 of 2006).\nBe it enacted by the Legislative Assembly of Arunachal Pradesh in the Seventy-fifth years of the Republic\nof india as follows:",
            "footnote": "",
            "is_definition": false,
            "sort_order": 0
        },
        {
            "number": "1",
            "title": "Section 1. Short title and commencement",
            "chapter": null,
            "content": "1. Short title and commencement :\n(1) This Act may be called the Arunachal Pradesh Fiscal Responsibility and Budget Management\n(Amendment) Act, 2024,\n(2) It shall come into force on the date of its publication in the Official Gazette.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 10
        },
        {
            "number": "1",
            "title": "Section 1(1)",
            "chapter": null,
            "content": "(1) This Act may be called the Arunachal Pradesh Fiscal Responsibility and Budget Management\n(Amendment) Act, 2024,",
            "footnote": "",
            "is_definition": false,
            "sort_order": 20
        },
        {
            "number": "1",
            "title": "Section 1(2)",
            "chapter": null,
            "content": "(2) It shall come into force on the date of its publication in the Official Gazette.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 30
        },
        {
            "number": "2",
            "title": "Section 2",
            "chapter": null,
            "content": "2. Amendment of sub-section (3) of Section 4 : In the Arunachal Pradesh Fiscal Responsibility and\r\nBudget Management Act, 2006 (Act No. 4 of 2006), in Section 4, in sub-section (3), after clause (j),\r\nthe following clause shall be inserted :-\r\n\"(k) In the event State Government is not able to fully utilize its borrowing limit as specified in\r\nclause (j) above in any particular year during the first four years during award period of\r\nFifteenth Finance Commission (FFC), State Government will have the option of availing this\r\nunutilized borrowing amount (calculated in rupees) in any of the subsequent years within the\r\naward period of Fifteenth Finance Commission (FFC).\r\n() Fiscal Sustainability Targets : In particular and without prejudice to the generality of\r\nthe foregoing provisions State Government shall :\r\n(i) achieve the revenue deficit targets during award period of Fifteenth Finance\r\nCommission (FFC) 2023-2024, 2024-2025 and 2025-2026 @ (-) 1.20%, (-) 1.70%\r\nand (-)2.50% of GSDP respectively ;\r\n*negative values indicate surplus and positive values indicate deficit.\r\n(ii) achieve the fiscal deficit targets during award period of Fifteenth Finance Commission\r\n(FFC)2023-2024, 2024-2025 and 2025-2026 @ 3.00% of GSDP respectively: and\r\nthereafter continue to maintain or reduce it further ;\r\n(iii) restrict the total outstanding liabilities during award period of Fifteenth Finance\r\nCommission (FFC) 2023-2024, 2024-2025 and 2025-2026 @ 33.10 %, 32.80 %\r\nand 32.50 % of GSDP respectively; and thereafter maintain the said ratio or\r\nreduce it\r\n(iv) ensure to bring out annual statements giving prospects for the State economy and\r\nrelated fiscal strategy;\r\n(v) ensure to bring out special statement alongwith the budget giving in detail number\r\nof employees in Government, Public Sector and aided institution and related salary;\r\n(vi) Maintain to zero outstanding Government guarantee to the estimated receipt in the\r\nConsolidated Fund of State Finance during award period of Fifteenth Finance\r\nCommission (FFC);\r\n(vii) Provided that revenue deficit and fiscal deficit may exceed the limits specified\r\nunder this Section:\r\n(a) due to ground or grounds of unforeseen demands on the finance of the State\r\nGovernment arising out of national security or natural calamity including drought,\r\nflood relief or such other exceptional circumstance beyond the control of the\r\nState Government;\r\n(b) due to development and other unavoidable expenditure;\r\n(c) upto the limits indicated by the Central Government from time to time;.\r\n(d) provided also that the State Government shall avail 50 years interest free loan\r\nunder the \"Scheme for Special Assistant to States for Capital Expenditure\" of\r\nthe Central Government for financing infrastructure project of the State during\r\nFifteenth Finance Commission (FFC) award period. This share be allowed\r\nover and above all limits prescribed for fiscal deficit debt stock\".",
            "footnote": "",
            "is_definition": false,
            "sort_order": 40
        }
    ],
    "metadata": {
        "Act ID": "202406",
        "Act Number": "6",
        "Enactment Date": "2024-02-23",
        "Act Year": "2024",
        "Short Title": "The Arunachal Pradesh Fiscal Responsibility and Budget Management (Amendment) Act, 2024",
        "Department": "Law, Legislative and Justice Department",
        "Type": "STATE",
        "Location": "Arunachal Pradesh"
    },
    "updated_at": "2026-09-29 21:52:11"
}