The Assam Fiscal Responsibility and Budget Management (Amendment) Act, 2007

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Registered No. 768/97
THE ASSAM GAZETTE  
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EXTRAORDINARY
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PUBLISHED BY THE AUTHORITY
288 4 W L  29 W it, 2007, 7 1929 (’ W )
No. 288 Dispur, Wednesday, 29th August, 2007, 7th Bhadra, 1929(S.E.)
GOVERNMENT OF ASSAM
ORDERS BY THE GOVERNOR
LEGISLATIVE DEPARTMENT :: LEGISLATIVE BRANCH
NOTIFICATION
The 28th August, 2007
No. LGL. 59/2005/42. —  The following Act of the Assam Legislative Assembly which 
received the assent o f the G overnor is hereby published for general information.
A SSAM  ACT NO. XVII OF 2007
(R eceived the assent of the Governor on 24th August, 2007)
THE ASSAM FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT  
(AMENDMENT) ACT, 2007
AN
ACT

1866 THE ASSAM GAZETTE, EXTRAORDINARY. AUGUST 29, 2007___
further to amend the Assam fiscal Responsibility and Budget 
Management Act, 2005.
Preamble Whereas it is expedient further to amend the Assam Fiscal Assam Act
Responsibility and Budget Management Act, 2005, hereinafter XXVII 
referred to as the principal .A ct, in the manner hereinafter o f2005 
appearing;
It is hereby enacted in the Fifty-eighth Year of the Republic 
of India as follows: -
Short title, 1 .
extent and 
commencement
Amendment of 2.
Section 4
(1) This Act may be called the Assam Fiscal 
Responsibility and Budget Management 
(Amendment) Act. 2007.
(2) It shall have the like extent as the principal Act.
(3) It shall be deemed to have come into force on the first 
day of September, 2005, the day on which the 
principal Act came into force, save and except clause 
(iv) of section 2 of this Act which shall come into 
force at once
In the principal Act. in section 4. in sub-section (3). -
(i) for the existing clause (ii), the following shall he 
substituted, namely :  -
“(ii) reduce revenue deficit annually at an average annual 
reduction rate consistent with the goal set out in clause
(ii) for the existing clause (vi), the following shall be 
substituted, namely :  -
“(G) reduce fiscal deficit annually as a percentage of Gross State 
Domestic Product at an average reduction rate consistent 
with the goal set out in clause (v
(iii) for the existing clause (viii), the following shall be 
substituted, namely :
“(viii) State Government guarantee for the loans contracted by 
Public Sector Undertakings. Boards. Companies, 
Corporations, Cooperative Societies or Autonomous 
organizations under the Slate Government, shall be 
restricted at any point of time to fifty percent of State’s 
own tax and non-tax revenue of the second preceding 
year, as reflected in the books of accounts as maintained 
by the Accountant General ;
(iv) after the existing proviso of clause - (viii), the foilowing 
shall be inserted as clause (ix), namely:-
“(ix) ensure to bring out special statement along with the annual 
budget giving in detail, number of employees in 
Government, Public Sector and Aided institutions and 
related salary.”
M OHD. A. HAQUE, 
Secretary to the Government of Assam, 
Legislative Department.
GUWAHAT1-Printed and Published by the Dy. Director (P&S), Directorate o f Ptg. & Sty.. Assam, Guwahati-21 
(Ex-Gazette) No. 575-500-600-29-08-2007.

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