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Chhattisgarh fiscal Responsibility and Budget Management Act, 2005
Chhattisgarh fiscal Responsibility and Budget Management Act, 2005
Sections
1. Short title, extent and commencement.
Section 12. Definitions.
Section 24. Fiscal policy statements to be laid before the legislature.
Section 45. Measures for Fiscal Transparency.
Section 56. Measures to Enforce Compliance.
Section 67. Power to make Rules.
Section 78. Rules to be laid before legislature.
Section 89. Protection of action taken in good faith.
Section 910. Bar of jurisdiction of civil courts.
Section 1011. Act not in derogation of any other law.
Section 1112. Power to remove difficulties.
Section 12
chhattisgarh-fiscal-responsibility-and-budget-management-act-2005.json
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11 Sections
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Chhattisgarh
{
"id": 15977,
"slug": "chhattisgarh-fiscal-responsibility-and-budget-management-act-2005",
"title": "Chhattisgarh fiscal Responsibility and Budget Management Act, 2005",
"short_title": "Chhattisgarh fiscal Responsibility and Budget Management Act, 2005",
"act_number": "(Act No. 16 of 2005)",
"act_year": 2005,
"act_type": "STATE",
"location": "Chhattisgarh",
"law_status": "unknown",
"enactment_date": null,
"description": "Chhattisgarh fiscal Responsibility and Budget Management Act, 2005",
"preamble": "",
"section_label": "Section",
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"number": "1",
"title": "1. Short title, extent and commencement.",
"chapter": null,
"content": "",
"footnote": "",
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{
"number": "2",
"title": "2. Definitions.",
"chapter": null,
"content": "(a) \"Budget\" means the annual financial statement laid before the House of the State legislature under Article 202 of the Constitution.\n(b) \"Current year\" means the financial year preceding the ensuing year;\n(c) \"Ensuing year\" means the financial year for which the budget is being presented;\n(d) \"Financial year\" means the year beginning on the 1st April and ending on 31st March next following ;\n(e) \"GSDP\" means Gross State Domestic Product at current market prices.\n(f) \"Fiscal deficit\" means the excess of aggregate disbursements (net of debt repayments) over revenue receipts, recovery of loans and non-debt capital receipts, during a financial year;\n(g) \"Fiscal indicators\" means such indicators as may be prescribed for evaluation of the Fiscal position of the State Government;\n(h) \"Fiscal targets\" means the numerical ceilings and proportions to total revenue receipts (TRR) or GSDP for the fiscal indicators;\n(i) \"Prescribed\" means prescribed by the rules made under this Act;\n(j) \"Previous years\" means the year preceding the current year;\n(k) \"Revenue deficit\" means the difference between revenue expenditure and total revenue receipts (TRR);\n(l) \"Total liabilities\" means the liabilities under the Consolidated Fund of the State and the Public Account of the State and includes borrowings by the public sector undertakings and the special purpose vehicles and other equivalent instruments including guarantees where the principal or interest are to be serviced out of the State budget.\n[3. Fiscal Rules.",
"footnote": "",
"is_definition": true,
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{
"number": "4",
"title": "4. Fiscal policy statements to be laid before the legislature.",
"chapter": null,
"content": "(a) The Macroeconomic Framework Statement;\n(b) The Medium Term Fiscal Policy Statement; and\n(c) The Fiscal Policy Strategy Statement.\n(i) the growth in the GSDP\n(ii) the fiscal balance of the State Government as reflected in the revenue balance and gross fiscal balance.\n(ii) in particular and without prejudice to the provisions contained in subsection (1), the Medium Term Fiscal Policy Statement shall include the various assumptions behind the fiscal indicators and an assessment of sustainability relating to : -\n(a) the balance between revenue receipts and revenue expenditure;\n(b) the use of capital receipts including borrowing for generating productive assets;\n(i) the fiscal policies of the State Government for the ensuing year relating to taxation expenditure, borrowings and other liabilities, lending, investments, other contingent liabilities, user charges on public goods/utilities and description of other activities, such as guarantees and activities of Public Sector Undertakings which have potential budgetary implications;\n(ii) the strategic priorities of the State Government in the fiscal area for the ensuing year;\n(iii) the key fiscal measures and the rational for any major deviation in fiscal measures pertaining to taxation, subsidy, expenditure, borrowings and user charges on public goods/utilities; and\n(iv) an evaluation of the current policies of the State Government vis-a-vis the fiscal management principles set out in Section 3 and the fiscal objectives set out in the Medium-Term Fiscal Policy Statement in sub-section 3 (1) of section 4.",
"footnote": "",
"is_definition": false,
"sort_order": 2
},
{
"number": "5",
"title": "5. Measures for Fiscal Transparency.",
"chapter": null,
"content": "(i) the significant charges in the accounting standards, policies and practices affecting or likely to affect the computation of fiscal indicators;\n(ii) details of borrowing by way of Ways and Means Advances/Overdraft availed of from the Reserve Bank of India.",
"footnote": "",
"is_definition": false,
"sort_order": 3
},
{
"number": "6",
"title": "6. Measures to Enforce Compliance.",
"chapter": null,
"content": "(ii) where owing to unforeseen circumstances, any deviation is made in meeting the obligations cast on the State Government under this Act, the Minister of Finance shall make a statement in the State Legislature explaining : -\n(a) such deviation in meeting the obligations cast on the State Government under this Act;\n(b) whether such deviation is substantial and relates to the actual or the potential budgetary outcomes; and\n(c) the remedial measures the State Government proposes to take.",
"footnote": "",
"is_definition": false,
"sort_order": 4
},
{
"number": "7",
"title": "7. Power to make Rules.",
"chapter": null,
"content": "(a) the annual targets to be specified under sub-section (2) of section 3;\n(b) the fiscal indicators to be prescribed for the purpose of the sub-section (3) (i) of section 4;\n(c) the forms of the Macroeconomic Framework Statement, Medium-Term Fiscal Policy Statement and Fiscal Policy Strategy Statement under section 4;\n(d) the forms for disclosure under sub-section (2) and sub-section (3) of section 5;\n(e) measures to enforce compliance; and\n(f) any other matter which is required to be, or may be, prescribed:",
"footnote": "",
"is_definition": false,
"sort_order": 5
},
{
"number": "8",
"title": "8. Rules to be laid before legislature.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 6
},
{
"number": "9",
"title": "9. Protection of action taken in good faith.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 7
},
{
"number": "10",
"title": "10. Bar of jurisdiction of civil courts.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 8
},
{
"number": "11",
"title": "11. Act not in derogation of any other law.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 9
},
{
"number": "12",
"title": "12. Power to remove difficulties.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 10
}
],
"metadata": {
"Act ID": "Last Updated 6th November, 2019 [cg145]",
"Act Number": "(Act No. 16 of 2005)",
"Enactment Date": "",
"Act Year": "2005",
"Short Title": "Chhattisgarh fiscal Responsibility and Budget Management Act, 2005",
"Type": "STATE",
"Location": "Chhattisgarh"
},
"updated_at": "2026-09-29 21:55:19"
}