Section 3: Ceiling on Government guarantees

The Karnataka Ceiling on Government Guarantees Act, 1999.State Act of Karnataka · Act 11 of 1982

The total outstanding Government guarantees as on the first day of April of any year shall not exceed eighty percent of the State's revenue receipts of the second preceding year as in the books of the Accountant General of Karnataka:

Provided that the ceiling on the Government guarantee shall not apply for any additional borrowing for implementation of the Upper Krishna Project, for the purpose of utilising the water resources as per Bachawath Award.

Where this provision sits

Act	The Karnataka Ceiling on Government Guarantees Act, 1999.
Section	3
Marginal note	Ceiling on Government guarantees
Jurisdiction	State of Karnataka
Status	In force as published by the source

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