{
    "act_title": "The Arunachal Pradesh Fiscal Responsibility (and Budget Management) Act, 2006",
    "act_slug": "the-arunachal-pradesh-fiscal-responsibility-and-budget-management-act-2006",
    "section_label": "Section",
    "section": {
        "number": "2",
        "title": "2. Definitions.",
        "chapter": null,
        "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,
        "sort_order": 1
    },
    "prev_section": "1",
    "next_section": "3"
}