The Fiscal Responsibility and Budget Management Act, 2003
Central Act · Act 39 of 200314 provisions1 citing judgments
The enactment
| Long title | An Act to provide for the responsibility of the Central Government to ensure inter-generational equity in fiscal management and long-term macro-economic stability by achieving sufficient revenue surplus and removing fiscal impediments in the effective conduct of monetary policy and prudential debt management consistent with fiscal sustainability through limits on the Central Government borrowings, debt and deficits, greater transparency in fiscal operations of the Central Government and conducting fiscal policy in a medium-term framework and for matters connected therewith or incidental there… |
|---|---|
| Type | Act |
| Citation | Act 39 of 2003 |
| Year | 2003 |
| Jurisdiction | Central |
| Ministry | Ministry of Finance |
| Status | In force as published by the source |
| Provisions published | 14 |
| Subjects | taxation |
Full text, provision by provision
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- Section 1 Short title, extent and commencement.
- Section 2 Definitions.
- Section 3 Fiscal policy statements to be laid before Parliament.
- Section 4 Fiscal management principles.1 citing judgment
- Section 5 Borrowing from Reserve Bank.
- Section 6 Measures for fiscal transparency.
- Section 7 Measures to enforce compliance.
- Section 7A Laying of review reports.
- Section 8 Power to make rules.
- Section 9 Rules to be laid before each House of Parliament.
- Section 10 Protection of action taken in good faith.
- Section 11 Jurisdiction of civil courts barred.
- Section 12 Application of other laws not barred.
- Section 13 Power to remove difficulties.
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