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Section 4: Fiscal Management Principles

The Goa Fiscal Responsibility and Budget Management Act, 2006State Act of Goa · Act 12 of 2006

(1) The Government shall take appropriate measures to eliminate the revenue deficit and contain fiscal deficit and outstanding debt to sustainable levels.

(2) The Government shall be guided by the following fiscal management principles, namely:

—

(a) maintain State Government debt at prudent and sustainable level;

(b) manage guarantees and other contingent liabilities prudently, with particular reference to quality and level of such liabilities;

(c) ensure that borrowings are used for productive purposes and accumulation of capital assets, and are not applied to finance current expenditure;

(d) manage expenditure consistent with the level of revenue generated.

Where this provision sits

ActThe Goa Fiscal Responsibility and Budget Management Act, 2006
Section4
Marginal noteFiscal Management Principles
JurisdictionState of Goa
StatusIn force as published by the source

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