(1) The State Government may prescribe such targets as may be deemed necessary for giving effect to the fiscal management objectives.
1[(2) In particular, and without prejudice to the generality of the foregoing provisions, the State Government shall—
(a) attain zero revenue deficit target from 2011-12 and maintain the same till 2014-15 :
(b) 2[for the Financial year 2020-21, additional fiscal deficit of 2% over and above 3% of GSDP (upto 5% of GSDP) shall be permissible;]
(c) ensure that the outstanding debt as percentage of GSDP shall be 22.4% in 2010-11, 22.6% in 2011-12, 22.7% in 2012-13, 22.8% in 2013-14 and 22.9% in 2014-15 :
Provided that revenue deficit and fiscal deficit may exceed the limits specified under this section due to ground or grounds of unforeseen demands on the finances of the State Government arising out of internal disturbance or natural calamity or national security or such other exceptional grounds as the State Government may specify:
Provided further that a statement in respect of the ground or grounds specified in the first proviso shall be placed before the House of the State Legislature, as soon as may be, after such deficit amount exceeds the aforesaid targets;
(d) bring out annual statement giving prospects for the State’s economy and related fiscal strategy; and
(e) bring out special reports along with the budget giving details of number of employees in Government, public sector and aided institutions and their related salaries.]
Fiscal targets.
1 Substituted by Haryana Act 5 of 2011 w.e.f. 1st April, 2010.
2. Substituted by Haryana Act 24 of 2020.
FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT 2005 : Hr. Act 6] 380