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The Arunachal Pradesh Fiscal Responsibility (and Budget Management) Act, 2006
The Arunachal Pradesh Fiscal Responsibility (and Budget Management) Act, 2006
Sections
1. Short title, extent and commencement.
Section 12. Definitions.
Section 23. Medium Term Fiscal Plan to be laid before the Legislature.
Section 34. Fiscal Management Principles.
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. Application of other laws not barred.
Section 1011. Power to remove difficulties.
Section 11
the-arunachal-pradesh-fiscal-responsibility-and-budget-management-act-2006.json
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11 Sections
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Arunachal Pradesh
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"slug": "the-arunachal-pradesh-fiscal-responsibility-and-budget-management-act-2006",
"title": "The Arunachal Pradesh Fiscal Responsibility (and Budget Management) Act, 2006",
"short_title": "The Arunachal Pradesh Fiscal Responsibility (and Budget Management) Act, 2006",
"act_number": "Act No. 4 of 2006",
"act_year": 2006,
"act_type": "STATE",
"location": "Arunachal Pradesh",
"law_status": "unknown",
"enactment_date": null,
"description": "The Arunachal Pradesh Fiscal Responsibility (and Budget Management) Act, 2006",
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{
"number": "1",
"title": "1. Short title, extent and commencement.",
"chapter": null,
"content": "",
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{
"number": "2",
"title": "2. Definitions.",
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"content": "(a) \"Annual Budget\" means the annual financial statement laid before the House of State Legislature under Article 202 of the Constitution;\n(b) \"Current Year\" means the year preceding the year for which budget and Medium Term Fiscal Plan (MTFP) are being presented;\n(c) \"Fiscal Deficit\" means the excess of-\n(i) total disbursements from the Consolidated Fund of the State (excluding repayment of debt) over total receipts into the Fund (excluding the debt receipts), during a financial year; or\n(ii) total expenditure from the Consolidated Fund of the State (including loans but excluding repayment of debt) over own tax and non-tax revenue receipts, devolution and other grants from Government of India to the State, and non-debt capital receipts during a financial year which represents the borrowing requirements, net of repayment of debt of the State Government during financial year;\n(d) \"Fiscal Indicators\" means the such as numerical ceilings and proportions to gross state domestic product, as may be prescribed, for evaluation of the fiscal position of the State Government;\n(e) \"Previous Year\" means the year preceding the current year;\n(f) \"Revenue Deficit\" means the difference between revenue expenditure and revenue receipts; and\n(g) \"Total Liabilities\" means the liabilities under the Consolidated Fund of the State and the public account of the State.",
"footnote": "",
"is_definition": true,
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{
"number": "3",
"title": "3. Medium Term Fiscal Plan to be laid before the Legislature.",
"chapter": null,
"content": "(i) the balance between revenue receipts and revenue expenditures;\n(ii) the use of capital receipts including borrowings for productive assets.\n(a) the medium term fiscal objectives of the State Government;\n(b) an evaluation of the performance of the prescribed fiscal indicators in the previous year vis-a-vis the targets set out earlier, and the likely performance in the current year as per revised estimates;\n(c) a statement on recent economic trends and future prospects for growth and development affecting fiscal position of the State Government;\n(d) the strategic priorities of the State Government in the Fiscal areas for the ensuing financial year;\n(e) the policies of the State Government for the ensuing financial year relating to taxation, expenditure, borrowings (including borrowings by Public Sector Undertakings and Special Purpose Vehicles and other equivalent instruments where liability for repayment is on the State Government, with ceiling fixed for each agency) and other liabilities, lending and investments, pricing of administered goods and services and description of other activities, such as guarantees and activities of Public Sector Undertakings which have potential budgetary implications; and the key fiscal measures and targets pertaining to each of these;\n(f) an evaluation as to how the current policies of the State Government are in conformity with the fiscal management principles set out in section 4 and the fiscal objectives set out in the Medium Term Fiscal Plan.",
"footnote": "",
"is_definition": false,
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{
"number": "4",
"title": "4. Fiscal Management Principles.",
"chapter": null,
"content": "(a) maintain Government debt at prudent levels;\n(b) manage guarantees and other contingent liabilities prudently, with particular reference to the quality and level of such liabilities;\n(c) ensure that policy decisions of the Government have due regard to their financial implications on future generations;\n(d) ensure that borrowings are used for productive purposes and accumulation of capital assets, and are not applied to finance current expenditure;\n(e) ensure a reasonable degree of stability and predictability in the level of the tax burden;\n(f) maintain the integrity of the tax system by minimizing special incentives, concessions and exemptions;\n(g) pursue tax policies with due regard to economic efficiency and compliance costs;\n(h) pursue non-tax revenue policies with due regard to cost recovery and equity;\n(i) pursue expenditure policies that would provide impetus for economic growth, poverty reduction and improvement in human welfare;\n(j) build up a revenue surplus for sue in capital formation productive expenditure;\n(k) ensure that physical assets of the Government are properly maintained;\n(l) disclose sufficient information to allow the public to scrutinize the conduct of fiscal policy and the state of public finances;\n(m) ensure that Government uses resources in ways that give best value for money; and also ensure that public assets are put to best possible use;\n(n) minimize fiscal risks associated with running of public sector undertakings and utilities proving public goods and services;\n(o) manage expenditure consistent with the level of revenue generated;\n(p) formulate budget in a realistic and objective manner with due regard to the general economic outlook and revenue prospects, and minimize deviations during the course of the year; and\n(q) ensure discharge of current liabilities in a timely manner.\n[(a) maintain at least the level of revenue surplus in the base year (average of 2001-02 to 2003-04), in the subsequent years beginning from the initial financial year on 1st day of April, 2005 and ending on 31st day of March, 2009.\n(b) maintain revenue surplus as a percentage of Gross State Domestic Product (GSDP) in each of the financial year beginning on the 1st day of April, 2005 in a manner consistent with goal set out in clause (a);\n(c) to reduce fiscal deficit to not more than three percent of the estimated Gross State Domestic Product (GSDP) within a period of four financial years beginning from the initial financial year on the 1st day of April, 2005 and ending on the 31st day of March, 2009.]\n(d) reduce fiscal deficit as a percentage of Gross State Domestic Product (GSDP) in each of the financial year beginning on the 1st day of April, 2005 in a manner consistent with the goal set out in clause (c); and\n(e) the Constitution of India provides that a State may borrow within the territory of India upon the security of its Consolidated Fund, within such limits as may from time to time be fixed by an Act of its Legislature. But no such Act has been passed by the State so far. However, the State Government will be very conservative in giving guarantee.\n[(f) bring special report along with the budget giving in details of numbers of employees in Government, public sector and aided Institutions and related salaries.]",
"footnote": "",
"is_definition": false,
"sort_order": 3
},
{
"number": "5",
"title": "5. Measures for Fiscal Transparency.",
"chapter": null,
"content": "(a) the significant changes in the accounting standards, policies and practices affecting or likely to affect the computation of prescribed fiscal indicators;\n(b) as far as practicable, and consistent with protection of public interest, the contingent liabilities created by way of guarantees; the actual liabilities arising out of borrowings by Pubic Sector Undertakings and Special Purpose Vehicles and other equivalent instruments where liabilities for repayment is on the State Government; all claims and commitments made by the State Government having potential budgetary implications, including revenue demands raised but not realised; tax expenditure; losses incurred in providing public goods and services through public utilities and undertakings; liability in respect of major works and contracts; and subsidy payments and the impact of the same on the fiscal position of the State including in relation to the targets referred to in sub-section (3) of Section 4.",
"footnote": "",
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"sort_order": 4
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{
"number": "6",
"title": "6. Measures to enforce compliance.",
"chapter": null,
"content": "(a) any deviation or likely 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 how much of the deviation can be attributed to general economic environment and to policy changes by the State Government; and\n(c) the remedial measures, the State Government proposes to take.",
"footnote": "",
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"sort_order": 5
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{
"number": "7",
"title": "7. Power to make rules.",
"chapter": null,
"content": "(a) the fiscal indicators to the prescribed for the purpose of sub-section (2) of Section 3 and clause (a) of sub-section (2) of Section 5;\n(b) the form the medium Term Fiscal Plan referred to in sub-section (5) of Section 3 and sub-section (2) of Section 5; and\n(c) any either matter which is required to be, or may be, prescribed.",
"footnote": "",
"is_definition": false,
"sort_order": 6
},
{
"number": "8",
"title": "8. Rules to be laid before Legislature.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 7
},
{
"number": "9",
"title": "9. Protection of action taken in good faith.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 8
},
{
"number": "10",
"title": "10. Application of other laws not barred.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 9
},
{
"number": "11",
"title": "11. Power to remove difficulties.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 10
}
],
"metadata": {
"Act ID": "Last Updated 8th February, 2020 [aru072]",
"Act Number": "Act No. 4 of 2006",
"Enactment Date": "",
"Act Year": "2006",
"Short Title": "The Arunachal Pradesh Fiscal Responsibility (and Budget Management) Act, 2006",
"Type": "STATE",
"Location": "Arunachal Pradesh"
},
"updated_at": "2026-09-29 21:55:18"
}