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Section 7: Provision during Natural calamities

The Karnataka Fiscal Responsibility Rules, 2003.State Rules of Karnataka · 2002

In case of natural calamities, as described in sub-section (3) of section 4, the fiscal cost of the calamities shall be estimated with reference to,- a) additional expenditure due to relief and rehabilitation work in excess of budgetary allocations, and net of any reallocations from the budget;

b) shortfall in revenue due to depressed economic conditions directly attributable to such calamities;

c) Reduction in Gross state Domestic Product which may be attributed to the calamities.

Accordingly, fiscal deficit and revenue deficit can be permitted to exceed the figures provided for in the MTFP only to the extent indicated above.

Where this provision sits

ActThe Karnataka Fiscal Responsibility Rules, 2003.
Section7
Marginal noteProvision during Natural calamities
JurisdictionState of Karnataka
StatusIn force as published by the source

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