In this Act, unless the context otherwise requires,—
(a) “budget” means the annual financial statement laid before the Legislative Assembly under article 202 of the Constitution of India;
(b) “current year” means the financial year preceding the ensuing year;
(c) “ensuing year” means the financial year for which the budget is being presented;
(d) “financial year” means the year beginning on the 1st April and ending on 31st March next following;
(e) “fiscal deficit” means the excess of,—
(i) total disbursements from the Consolidated Fund of the State (excluding repayment of debt) over total receipts into the Consolidated Fund excluding the debt receipts during a financial year;
(ii) total expenditure from the Consolidated Fund of the State (including loans and advances but excluding debt repayment) over own tax and non-tax revenue receipts, devolution and other grants from the 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 the financial year;
(f) “fiscal indicators” means the measures 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;
(g) “Government” means the Government of Goa;
(h) “Legislative Assembly” means the Legislative Assembly of the State of Goa;
(i) “prescribed” means prescribed by rules made under this Act;
(j) “revenue deficit” means the difference between revenue expenditure and revenue receipts;
(k) “State” means the State of Goa;
(l) “total liabilities” means the liabilities under the Consolidated Fund of the State and the Public Account of the State.