In this Act, unless the context otherwise requires,-
(a) “Administrative Approval” means authority to create liability and I or incur expenditure;
(b) “Annual budget” means the annual financial statement laid before the State Legislature under article 202 of the Constitution;
(c) “Appointing Authorities” means officers of the State Government exercising the delegated authority of appointing persons to the posts under the State Government;
(d) “Current Year” means the year preceeding the year for which the budget and the Five Year Fiscal Plan (FYFP) are being presented;
(e) “Financial Year” means the year beginning on the 1st April and ending on the 11st day of March of the following calendar year;
(f) “Fiscal Deficit’ means the excess of aggregate disbursements (net of debt repayments) from the Consolidated Fund of the State over revenue receipts, recovery of loans and non-debt capital receipts during a financial year;
Explanation: For the purpose of calculation of Fiscal Deficit, boirowings by the Public Sector Undertakings and Special Purpose Vehicles and other equivalent instruments where liability for repayment is on the State Government, are to be treated as the borrowings of the State Government.
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(g) “Plan Outlay” means the annual aggregate plan for the State for a financial year as approved by the Planning Commission of the Government of India;
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(h) “Fiscal Indicators” means such figures, proportions, percentages as -nay be prescribed, for evaluation of the fiscal position of the State Government;
(i) “Prescribed” means as prescribed by the rules made under this Act;
(j) “Previous Year” means the year preceeding the current year;
(k) ‘Revenue deficit’ means the excess of the revenue expenditure over the revenue receipts in a financial year;
Explanation: For the purpose of this clause, interest payment by the State Government towards the borrowings by the Public Sector Undertakings, Special Purpose Vehicles or any other equivalent instruments where the liability for repayment is on the Government, shall be treated as revenue expenditure.
(l) “Revenue Surplus” means the excess of revenue receipts over the revenue expenditure;
(m) “Sanctioned Post” means the posts which were created by a sanction of,the State Government and has not been subsequently abolished or kept in abeyance by an order of the State Government;
(n) “State Government” means the Government of Assam;
(o) “Finance Department” means the Finance Department of the Government of Assam;
(p) “Total Liabilities” means liabilities upon the Consolidated Fund of the State and Public Account of the State.