Section 3: Medium term fiscal plan to be laid before the Legislature

The Himachal Pradesh Fiscal Responsibility and Budget Management Act, 2005State Act of Himachal Pradesh · Act 14 of 2005

(1) The medium term fiscal plan shall include an assessment of sustainability relating to,-

(a) the balance between revenue receipts and revenue expenditures;

(b) use of capital receipts including borrowings for generating productive assets;

(c) an evaluation of the performance of the prescribed fiscal indicators in the previous year vis-à-vis the targets set out earlier, and the likely performance in the current year as per revised estimates;

(d) a statement on the recent economic trends and future prospects for growth and development affecting fiscal position of the State Government; and

(e) the strategic priorities of the State Government in the fiscal area for the ensuing financial year.

(2) The medium term fiscal plan shall set forth a four year rolling target for the fiscal indicators prescribed, with specification of underlying assumptions.

(3) The State Government shall in each financial year lay before the State Legislative Assembly a medium term fiscal plan alongwith the annual budget.

(4) The medium term fiscal plan shall be in such form as may be prescribed.

Where this provision sits

Act	The Himachal Pradesh Fiscal Responsibility and Budget Management Act, 2005
Section	3
Marginal note	Medium term fiscal plan to be laid before the Legislature
Jurisdiction	State of Himachal Pradesh
Status	In force as published by the source

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