The Assam Fiscal Responsibility and Budget Management (Amendment) Act, 2017

Registered No.-768/97
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THE ASSAM GAZETTE
EXTRAORDINARY
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PUBLISHED BY THE AUTHORITY
1 2 0 ^ ^ , ^ ^ ,  5 4l£M ,2017, 15 5 ^ ,  1939 (*l^)
No. 120 Dispur, Wednesday, Sth April, 2017, 15th Chaitra, 1939 (S.E.)
GOVERNMENT OF ASSAM
ORDERS BY THE GOVERNOR
LEGISLATIVE DEPARTMENT :  :  :  LEGISLATIVE BRANCH
NOTIFICATION
The Sth April, 2017
No. LGL.59/2005/75.- The following Act of the Assam Legislative Assembly which 
received the assent of the Governor on 30th March, 2017 is hereby published for general information.
ASSAM ACT NO. XVII OF 2017
(Received the assent of the Governor on 30th March, 2017)
THE ASSAM FISCAL RESPONSIBILITY AND
BUDGET MANAGEMENT (AMENDMENT) ACT, 2017

892 THE ASSAM GAZETTE, EXTRAORDINARY, APRIL 5, 2017
AN
ACT
Preamble
Short title, 
extent and 
commencement.
Amendment of 
section 4-
further to amend the Assam Fiscal Responsibility and Budget 
Management Act, 2005.
Whereas it is expedient further to amend the Assam Fiscal Assam Act  
Responsibility and Budget Management Act, 2005, hereinafter N o. XXVII  
referred to as the principal Act, in the manner hereinafter appearing ; of 2005.
It is hereby enacted in the sixty-eighth Year of the Republic of
India as follows:-
1. (1) This Act may be called the Assam Fiscal Responsibility and
Budget Management (Amendment) Act, 2017-
(2) It shall have the like extent as the principal Act.
(3) It shall come into force at once.
2. In the principal Act, in section 4, in sub-section (3), for the 
existing clause (v), the following shall be substituted, 
namely:-
“(v) Anchor fiscal deficit of the State to an annual limit of 3 percent 
of Gross State Domestic Product (GSDP) in any financial year-
Explanation: (a) For the purpose of this clause, the State 
Government shall be,-
(i) eligible for flexibility of 0.25 percent over the borrowing limit 
for any given year for which the borrowing limits are to be 
fixed, if their debt-GSDP ratio is less than or equal to 25 
percent in the preceding year;
(ii) eligible for an additional borrowing limit of 0.25 percent of 
GSDP in a given year for which the borrowing limits are to be 
fixed, if the interest payments are less than or equal to 10 
percent of the revenue receipt in the preceding year ;
(b) The two options of flexibility provisions as mentioned in 
Explanation (a) above can be availed of by the State 
Government either separately if any of the above criteria is 
fulfilled or simultaneously if both the above criteria are 
fulfilled, to attain a maximum fiscal deficit-GSDP limit of 3.5 
per cent in any given year ;
(c) The flexibility in availing the additional limit under either of 
the two options or both as mentioned in Explanation (a) above 
will be available to the State Government only if there is no 
revenue deficit in the year in which borrowing limits are to be 
fixed and the immediately preceding year.”
S. M. BUZAR BARUAII,
Commissioner & Secretary to the Government of Assam, 
Legislative Department, Dispur.
G uw ahatiPrinted and Published by the Dy. Director (P & S), Directorate of Printing & Stationery, Assam, Guwahati-21.  
Ex. Gazette No. 239 -2 0 0 +  10 - 05 - 04-2017.
 
 

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