(i) transparency in setting the fiscal policy objectives, the implementation of public policy and in the publication of public accounts;
(ii) stability in fiscal policy making process;
(iii) responsibility in the management of public finances;
(iv) fairness in policy decisions of the State Government having due regard to the financial implications on future generation;
(v) efficiency in design and implementation of the fiscal policy and managing the public sector;
(vi) to maintain Government debt at prudent level;
(vii) to manage guarantees and other contingent liabilities prudently, with particular reference to the quality and level of such liabilities;
(viii) to maintain the integrity of the tax system by minimizing special incentives, concessions and exemptions;
(ix) to pursue non-tax revenue policies with due regard to cost recovery and equity;
(x) to pursue expenditure policies that would provide impetus to economic growth, poverty reduction and promotion of welfare of the people;
(xi) to ensure that State Government uses resources in such a way that give best value for money and also ensure that public assets are put to the best possible use;
(xii) to minimize fiscal risks associated with running of public sector undertakings and utilizes it for providing public goods and services;
(xiii) to formulate budget to realistic and objective manner with due regard to the general economic outlook and revenue prospects and to minimize deviations during the course of the year.
Section 4 • The Gujarat Fiscal Responsibility Act, 2005
4. Fiscal management principles.
gujarat-fiscal-responsibility-act-2005-sec-4.json
•
Section 4
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"title": "4. Fiscal management principles.",
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"content": "(i) transparency in setting the fiscal policy objectives, the implementation of public policy and in the publication of public accounts;\n(ii) stability in fiscal policy making process;\n(iii) responsibility in the management of public finances;\n(iv) fairness in policy decisions of the State Government having due regard to the financial implications on future generation;\n(v) efficiency in design and implementation of the fiscal policy and managing the public sector;\n(vi) to maintain Government debt at prudent level;\n(vii) to manage guarantees and other contingent liabilities prudently, with particular reference to the quality and level of such liabilities;\n(viii) to maintain the integrity of the tax system by minimizing special incentives, concessions and exemptions;\n(ix) to pursue non-tax revenue policies with due regard to cost recovery and equity;\n(x) to pursue expenditure policies that would provide impetus to economic growth, poverty reduction and promotion of welfare of the people;\n(xi) to ensure that State Government uses resources in such a way that give best value for money and also ensure that public assets are put to the best possible use;\n(xii) to minimize fiscal risks associated with running of public sector undertakings and utilizes it for providing public goods and services;\n(xiii) to formulate budget to realistic and objective manner with due regard to the general economic outlook and revenue prospects and to minimize deviations during the course of the year.",
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