(1) This Act may be called the Assam Local Sclf-Govemmeht Fiscal Responsibili ty Act, 2011.
(2) I t extends to the Local Self-Governments constituted under Part IX and IX-A of the C onstitu tion o f India as may be notified by the State Government from time to time.
(3) It shall come into force on such date as the State Government may, by noti fication in the Official Gazette , appoint.
.2. In this Act, unless the context otherwise requires, -
(a) “Local Self-Government Fund” means the revenue administered by Panchayati Raj Institutions and Urban Local Bodies constituted under Part IX and IX-A o f the Constitution of India and created by the State Government for Panchayats at the District, Intermediate and Vil lage leve ls in terms of Article 243H (d) of the Constitution and for Municipalities in terms o f Article 243X (d) of the Constitution;
(b) “Local Self-Government” means the Panchayati Raj Institutions and Urban Local Bodies constituted under Part IX and IX-A o f the Constitu tion o f India;
(c) “account ing standard” means such accounting standards i n respec t of Local Self-Governments, as may be prescribed;
(d) “annual budget” means the budge t placed before the Local Self- Government concerned as pe r the relevant Acts or the rules made thereunder;
(e) “budget variance” means the difference between the budgeted amount and the actuals for the financial year;
(f) “Control ling Authority” means any officer appointed as controlling authority by the State Government for the purpose of this Act and different controlling authorities may be appointed in respect of differen t Local Self-Governments;
(g) “current year” means the year preceding the year for which budget and Medium Term Fiscal Plan (MTFP) being presented;
(h) “fiscal indicators” means such measures as may be prescribed, for evaluation of fiscal posit ion o f Local Self-Governments;
A -_____ THE ASSAM GAZETTE. EXTRAORDINARY SEPTEMBER 6.2011 1993 Medium Term Fiscal Plan Financial Management Principles
(i) “previous year” means the year preceding the current year;
0) “State Goveirsnisasi'* means the State Government of Assam in the Finance Department.