LexThe Chhattisgarh Rajkoshiya Uttardayitwa aur Budget prabandh Adhiniyam, 2005
Chhattisgarh · state statute
Open in Lexace · Ask the AI about this act.,
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Short Title, extent
and Commencement.
Definitions.
CHHATIJSGARH ACT
(No. I 6 of 2005)
THE CHHATTTSGARH FISCAL RESPONSIBILITY AND BUDGET MANAGE
MENT ACT, 2005
A Bill to provide for the responsibility of the State Government to ensure prudence in
fiscal management and fiscal stability by progressive elimination of revenue deficit, reduction
in fiscal deficit, prudent debt management consistent with fiscal sustainability, greater
transparency in fiscal operations of the Government and conduct of fiscal policy in a medium
term framework and for matters connected therewith or incidental thereto.
Be it enacted by the Chhattisgarh State Legislature in the fifty-sixth year of the Republic of
India as follows :-
I.
2.
(I) This Act may be called the Chhattisgarh fiscal Responsibility and Budget
Management Act, 2005. ·
(2) It extends to the whole of State of Chhattisgarh.
(3) It shall come into f6rce from the date of its publication in the official Gazette.
In this Act, unless the context otherwise requires :-
(a)
(b)
(c)
(d)
(e)
(t)
'
(g)
(h)
(i)
(j)
"Budget"" means the annual financial statement laid before the House of the State
legislature under Anicie 202 of the Constitution,
"Current year" means the financial year preceding the ensuing year;
:•Ensuing year" means the financial year for which the budget is being presented;
"Financial year" means the year beginning on the 1st April and ending on 31st
March next following;
"GSDP" means Gross State Domestic Product at current market prices. •
"Fiscal deficit" means the excess of aggregate disbursements (net of debt repay
ments) over revenue receipts, recovery of loans and non-debt capital receipts.
during a financial year;
"Fiscal indicators" means such indicators as may be prescribed for evaluation of
. the fiscal position of the State Government; •
"Fiscal targets" means the numerical ceilings and proportion, to total revenue
receipts (TRR) or GSDP for the fiscal indicators;
"Prescribed" means prescribed by the rules made under this Act;
"Previous year" means the year preceding the current'year;
I
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4.
i
\ gtj]e,,~ m, ~ 2 ftrn1<!i: 200s
(k) "Revenue deficit" means the difference between revenue expenditure and total
revenue receipts (TRR): "
Explanation :-"Total revenue receipts' (TRR) includes State's own revenue receipts (both
tax and non-tax) and current transfers from the Centre (comprising grants
· and State's share of Central taxes);
(I) "Total lia)lilities" means the liabilities under the Consolidated Fund of the State
'and the Public Account of the State and includes borrowings by the public sector
undertakings and the special purpose vehicles and other equivale'!t instruments
including guarantees where the principal or interest are to be serviced out of the
3.
(1)
State budget. · ·
(1)
•
The State Goverrunent shall take appropriate measures · to reduce the
fiscal deficit and revenue deficit so as to eliminate revenue deficit by the
31st March, 2009 and bring fiscal deficit down to 3% of the.GSDP by
the 31st March 2009.
(2) The State Government shall, by rules made by ft, specify-
(a) the annual targets for the reduction offiscal deficit and revenue
deficit during the period beginning with the commencement of
the Act and ending on 3ls! Marcli, 2009.
(b) The annual targets ofasswning contingent liabilities in the form
of guarantees and the total liabilities as a percentage of GSDP.
Provided that revenue deficit and· fiscal deficit may exceed the limits·
specified under this section on the ground or grounds of unforeseen demands on
the finances of the State Government arising out of internal disturbance or natural
calamity or such other exceptional grounds as the State Government may specify.
The State Goverrunent shall in each financial year lay before the State Legislature,
the following statements of fiscal policy along with the annual financial statement
and demands for grants, namely :-
(a) The Macroeconomic Framework Statement;
(b) The Medium Term Fiscal Policy Statement: and
(c) The Fiscal Policy Strategy Statement.
(2) The Macroeconomic Framework Statement shall contain an overview of the State
economy, an analysis of growth and sectoral composition of GSDP, an assessment
related to State Government finances and future prospects. In particular and
without prejudice to the generality of the foregoing provisiOJ!S the macro;
economic framework statement shall contain an assessment relating to-
(i) The growth in the GSDP
(ii) The fiscal balance of the State Government as reflected in the revenue
balance and gross fiscal balance.
410 (45)
Fiscal management
principles.
Fiscal policy state
ments to be lnid be
fore the legislature.
410 (46)
Measures for Fiscal
Transparency.
•
5.
(3) (i) The Medium Term Fiscal Policy Statement shall set forth in such form
as may be prescribed the fiscal management objectives of the State
Government and three-year rolling targets for the prescribed fiscal
indicators with clear enunciation of the underlying assumptions.
(ii) In particular and without prejudice to the provisions contained in sub
section (I), the Medium Term Fiscal Policy Statement shall include the
various assumptions behind the fiscal indicators and an assessment of
sustainability relating to :-
{a) the balance between revenue r~ceipts and revenue expenditure:
(b) the use of capital receipts including borrowings for generating
productive assets;
(4) The Fiscal Policy Strategy Statement shall be in such form as may be prescribed
and shall contain, inter alia :-
(I)
(i) the fiscal policies of the State Government for the ensuing year relating
to taxation.expenditure.borrowings and other liabilities, lending. invest
ments, other contingent liabilities, user charges on public goods/utilities
and description of other activities, such as guarantees and activities of
Public Sector Undertakings which have potential budgetary implications;
(ii) the strategic priorities of the State Government in the fiscal area for the
ensuing year;
(iii) the key fiscal measures and the rational for any major deviation in fiscal
measures pertaining to taxation, subsidy, expenditure, borrowings and
user charges on public goods/utilities; and
(iv) an evaluation of the current policies of the State Government vis-a-vis
/ the fiscal management principles set out in Section 3 and the fiscal
objectives set out in the Medium-Term Fiscal Policy Statement in sub
section 3 (I) of section 4.
The State Government shall take suitable measures to ensure greater trans
parency in its fiscal operations in the public interest and minimise as far as
practicable, secrecy in the preparation of the annual financial statement and
demands for grants.
(2) In particular, and without prejudice to the generality of the foregoing provisions,
µie State Government shall, at the time of presentation of the budget, make
disclosures on the following, along with detailed information in such forms as may
be prescribed :
(i) the significant charges in the accounting standards, policies and practices
affecting or likely to affect the computation of fiscal indicators;
(ii_) details of borrowings by_ way of Ways and Means Advances/Overdraft
availed of from the Reserve Bank of India .
..
6.
7.
(3)
@,-lh11,c; ~. ~ 2 ~ 200s -
Whenever the State Government undertakes to unconditionally and substantially
repay the principal amount and/or pay the interest of any separate legal entity, it
has to reflect such liability as th_e borrowing of the State in such fonn as may be
prescribed.
(4) The State Government shall in each financial year lay before the State Legislature
the special statements along with the budget giving in detail the number of
employees in Government, public sector and aided institutions and related
salaries.
(1)
(2)
(3)
..
(I)
•
The Minister-in-Charge of the Department of Finance (hereinafter referred to as
Minister of Finance) shall review, every quarter, the trends in receipts and
expenditure in relation to the budget estimates and place before the State
Legislature, the outcome of such revjews.
Whenever there is either short fall in revenue or excess of expenditure over the
intra-year targets mentioned in the Fiscal Policy Strategy Statement or the rules
made under this Act, the State Government shall take appropriate measures for
increasing revenue and/or for reducing the expenditure including curtailment of
the sums authorised to be paid and applied form out of the Consolidated Fund of
the State.
Provided that nothing in this sub-section shall apply to the expenditure
charged on the Consolidated Fund of the State under clause (3) of Article 202 of
the Consiitution or any other expenditure, which is required to be incurred under
any agreement or contract, which cannot be postponed or curtailed,
(i)
(ii)
Except as provided under thi, Act, no deviation in meeting the obliga
tions cast on the State Government under this Act, shall be permissible
without approval of Legislature.
Where owing to unforeseen circumstances, any deviation is made in -
meeting the obligations cast on the State Government under this Act, the
Minister of Finance shall make a statement in the ·state Legislature
explaining :-
(a) such deviation in meeting the obligations cast on the State
Government under this Act;
(b) whether such deviation is substantial and relates to the actual or
the potential budgetary outcomes; and
(c) the remedial measures the State Government proposes to take.
The State Government may, make rules for carrying out th_e provisions of the Act.
(2) In particular, and without prejudice to the generality of the foregoing power, such
rules may provide for all or any of the following maners, namely :-
(a) the annual targets to be specified under sub-section (2) of section 3;
(b) The fiscal indicators to be prescribed for the purpose of the sub-section
(3)(i) of section 4;
(c) The forms of the MacroecoIJornic FrameworkStatement, Medium
Term Fiscal Policy Statement and Fiscal Policy Strategy Statement
under section 4;
410 (47)
Measures to Enforce
Compliance.
•
Power to Make Rules.
\
•
410 (48)
Rules to be laid be
fore legislature.
Protection of action
taken in good faith.
Bar of Jurisdiction of
Civil Courts. ·
Act not in derogation
of an~· other law.
Power to remove dif
ficulties.
(d) The fonns for disclosure under sub-section (2) and sub-section (3) of
section 5;
(e) Measures to enforce compliance; and
(f) Any other matter which is required to be, or may be, prescribed.
8. Every rule made under this Act shall be laid before the State Legislature.
9. No suit, prosecution or other legal proceeding shall lie against the State Govenrn,~nt or any
officer of the State Government or any other person exercising any power or discharging any
function or perfonning any duty under this Act, for anything done in good faith or intended
to be done under this Act or any rule .made thereunder.
10. No Civil court shall entertain any suit or proceeding against any decision made or order passed
by any officer or authority under this Act or any rule made thereunder.
11. The Provisions of this Act shall be in addition to and net in derogation of any other law forthc
time being in force.
12. (I) If any difficulty anses in g1vmg effect to the provisions of the Act, the State
Government may. by order pubished in the Official Gazette, make such provi
sions not inconsistent with the provisions of the Act as may be deemed
necessary for removing the difficulty.
Provided that no order shall be made under this section after the expiry
of two years from the commencement of the Act.
(2) Every order made under this section shall be laid, before the State Legislature.
ST A TEMENT OF OBJECTS AND REASONS
With a view to provide for the responsibility of the State Government to' ensure fiscal ,u;d financial stability and
sustainability by achieving sufficient revenue surplus, reducing fiscal deficit and prudent debt management thmugh limits
on State Government borrowings, government guarantees, greater transparency in fiscal operations of the State Government
and use of a medium tenn fiscal framework, it was considered necessary to enact a law.
Hence this bill.
Raipur
Date . 2005.
Member-in-charge
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cfcfi'. 114-009/2003/20-01-03."
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239
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3 (1)
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~- ~~ 2005..:06 ~>IR'l'lfficfR'l'~rcftITl..j~lq~~ :m'~ffl
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0'ffiWl<il ~ {IG-l.j41('1 ~"!lli ~-oiTI 3ll~llllj~R,
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CHHAITISQARH ACT
(No. 15 of2006)
THE CIIllA TTISGARH FISCAL RESPONSIBILITY AND BUDGET
MANAGEMENT (AMENDMENT). ACT, 2006
An Act to amend the Chhattisgarh Fiscal Responsibility And Budget Management Act,
2005 (No. 16 of 2005) . .
Be it enacted by the Chhattisgarh State Legislature in the fifty-seventh year of the Republic of
India as follows :- · ·
1. (1)
(2)
-.
This Act may be called the Chhattisgarh Fiscal Responsibility and Budget
Management (Amendment) Act, 2006.
· It shall come into force from the date ?fits-publication in the Official Gazette.
2. For section 3 of t4e Chhattisgarh Fiscal Responsibility and Budget Management Act
(No. 16 of 2005), the following shall be substituted namely :'- . · ·
3.. {1) Annual targets :-By the 31st day of March 2009, the State Government shall
take appropriate measures to reduce the revenue deficit. The State· shall make
every endeavour to maintain nominal revenue surplus in each financial year
beginning with 2005-06 but however, under .no circ~mstance, the state·should _
exceed revenue deficit as below :-
2005-06
2006-07.
2007-08
2008-09 and iuter.
Rs.
Rs.
Rs.
253.20 crore
168.80 crore
84.4 crore
Zero revenue deficit.
(2) The State Government shall reduce fiscal deficit every year beginning withfinari
cial year 2005-06 by an amount atleast equivalent to one fourth of what actual
fiscal deficit ?,s a percentage of GSDP exceeds 3% in the financ;al year 2004-05,
so that fiscal deficit is brought down to not more than 3 percent of GSDP at the
end of March, 2009.
Short title and
comniencmetit.
Amendme!lt of sec
tion :i.
...
240 (2)
(3)
(4)
...
..
wolfl•i~ ~. 'fu:ticl; 31 lfRI 2006 ·
The State Government shall not give new guara,ntees, in any financial year
beginning . with the financial year 2005-06, in excess of 1.5 percent of GSDP in
nominal terms or 0.5% of GSDP on risk weighted basis, whichever is lower. ·
The State Government shall not assume additional total liabilities in-excess of 5
percent of GSDP for any financial year begi~ing with 2005-·06.
Provided that revenue deficit and fiscal deficit may exceed the limits
specified under this section on the ground or grounds of unforeseen demands on
the finances of the State Government arising outofintemal disturbance ornatural
clamity or such other exceptional grounds as the State Government may
• specify".
_ ... •
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fciftT 3TI"{ fq~ cnr:f fq~
tj,11<:"l'll, ~ cfi~IOI ·~ 'qcR, ~
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sfilTTcli" 7026m. 190/21-3l~.m. 11.111.-,zy-dh-lll~ fc{m, ~'ITT cf)[ f.:it-Jfaf@a 3TT~ f>rn "Cf{~ 24-09-
2011 ~ ~ cf>1 ~~"ITT 'ffil t ~ -wf-rn~ Cfi1 "1i1ct,i{1 ~-~ ~ ~ '1j'@l %_
549
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qi13tR"~~~~'.
'ITT:-
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~ ~ ~ f.11-1fclf@t1 oll-~ ~ 'cfil ~ 3l~ :-
"'( 1 ) cfriijq; <-f~ :- ~ mcliR fcTTw:r qi:f 2011-12 ~ mt~ ffi cf@~~ 'cfff
/
(2)
(4)
~ ~ tJR:I f-f'-11:lfll<. <Wit-' .
2011-12 ~
2012-13 ~
2013-14 ~
2014-15 ~
~ mcliR fcrnr;f qtf 2010-11 *·mt~ ffl cf@ ~ ~ cff:f -q cUetfcJi:fi
~-'El0~~~~cfil~ f1'-iljfil<. <Wrr-
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(~) ~~~ql:J 2010-11 *mt~fflq@~fcrnp;Jqi:f~~
'31i1JT ~ o~ ~ ~ ~ cfiT ~ f-1'-ilj«H ffilit-
(GT)
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2011-12
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22.sd~ -
·- 23.00~-
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. ~mcmqi:f 201-1.:.12 *mt~~~fcnm~qi:f~ft;rq~
~-~ ~ s ~* 3TTQcli~ ~ ~~ ~\~ -~, . . ; . - : •. ~ ·1 ' , _,:
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~ mu in 3ltir-r ~ m.TTan "B ~ ~-,,
550 ( 1)
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. ~ 7026fm.190/21-3l~.ffi .. 11./11.-~ ~-~ ~ ~ 348 ~-~ (3) ~~ii \'-]rll~•I~
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Short title, extent
and commence
ment.
Amendment of
Scciion'J:
CHHATIISGARH ACI
(No. 20 of 2011)
THE CHHATTISGARH FISCAL RESPONSIBILITY AND BUDGET. MANAGE
MENT (AMENDMENT) ACT, 2011
An Ac~ further to amend the Chhattisgarh Fiscal Responsibility and Budget
Management Act, 2005 (No. 16 of 2005).
Be it enacted by the Chhauisgarh State Legislature in the Sixty-second year of the
Republic of India as follows :-
I.
2.
(I) This Act may be called the Chhattisgarh Fiscal Responsibility and Budget
Management (AmendrnenttAct, 201 I.
(2) It extends to the whole State of Chhattisgarh.
(3) It shall come into force from the date of its publication in the Official Gazette.
·· For suh-section (l ), (2) and (4) of Section 3 of the Chhattisgarh Fiscal Responsibility
and Budget Management Act, 2005 (No. 16 of 2005) (herei11after referred to as the
Principal Act), the following sub-sections shall be substituted, namely :-
"( l) Annual targets :- The State Government shall maintain revenue deficit
every year, beginning from financial year 2011-12, as below -
20 I 1-12 Zero
2012-13
2013-14
2014-15
Zero
Zero
Zero
(2) The State Government shall maintain actual fiscal deficit as percentage of gross
State domestic product every year, beginning from financial year 20 l 0-11, as
below-
(4)
. ,
201~11 3%
2011-12
2012~!3
2013-14
2014-15
(i)
3%
3%
3%
3%
The State Government shall maintain total out~tanding debts per
centage of gross State domestic product every year, beginning froin
financial year 2010-l Las helow-
2010-l I· 22.00%
2011-12 22.50%
2012-13
2013-14
2014-15
23.00%
23.50%
23.901¼:
(ii) The State Government shall not assume additional total liabilities in
excess of 5 percent of GDP for any financial year beginning 2011-12:
Provided that revenue deficit and fiscal deficit may exceed
the limits specified under !his Section on the ground 01' grounds of
qnforeseen demands of the finances of the State Government arising
,~ut of inlcrnal disturbance or natural calamity or such other excep
tional grounds as the State Government may specify ...
..
4.
•
... .
r ..
J
For sub-section (I) of Section 6 of the Principal Act. the following sub-$ection shall be
substituted. namdy :-
"6 (I) (a) The Minister-in-Charge of the Department of Finance (hereinafter
referred to as Minister of Finance) shall review. every quarter, the
trends in receipts and expenditure in relation to the budget estimates
p.nd place before th~ State Legislature. the outcome of such reviews ..
(b) Fiscal targets mentioned in the Section 3 shall be reviewed atleast
twice in a-year by the state level comini ttee headed by Chief Secretary
of the State as notified under the provisions of the Act." ·
The Chhatti~garh Fiscal Responsibility and Budget Management (Amendment)
Ordinance, 2011 (No. 2 of 20·1 l) is hereby repealed .
550 (3)
Amendment of
Set.:tion 6.
Repeal .
. .
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CHHATTISGARH ACT
(No. 19 of 20 16)
THE Cl-ll-lATTISGARH FISCAL RESPONSIBILITY AND BUDGET
MANAGEMENT (AMENDMENT) ACT, 2016
An Act further to amend the Chhattisgarh Fiscal Responsibil ity and Budget
Management Act, 2005 (No. 16 of2005).
Be it enacted by the Chhattisgarh Legislature in the Sixty-seventh Year of the
Republic oflndia, as follows:-
I.
2.
(I) This Act may be called the Chhatti sgarh Fisca l Responsibil ity and
Budget Management (Amendment) Act, 2016.
(2) It shall come into force from the date of its publica tion in the Official
Gazette.
For Section 3 of the Chhattisgarh Fiscal Respons ibility and Budget Management
Act, 2005 (No. 16 of 2005) , the following shall be subst ituted , namely:-
"" .). The State Government shall, by rules, specify the
fiscal rules suggested for the Fiscal Responsibil ity
and Budget Management Acts of States by the
Finance Commission constituted by the President
oflndia ."
Fiscal Rules."
380 ( 1)
Short title and
commencement.
Amendment
Section 3.
of
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,CH}IATTISGARH ACT
(No.3 of 2021)
TIIE CHHATTISGARH FISCAL RESPONSIBILITY AI\D BTJDGET MANAGEMENT
. (AMEIIDMENT) ACT, ?fr20
An Act further to amend the Chhattisgarh Fiscal Responsibility and Budget
Management Act, 2005 (No. 16 of 2005).
Be it enacted by the Chhattisgarh Legislature in the Seventy First Year ofthe Republic
of India, as follows :-
_
1. (l) This Act may be called the Chhattisgarh Fiscal Responsibility and Short titte, extent
Budget Management (Amendment)Act, 2020 . and commencement.
@ It shall extend to the whole State of Chhattisgarh.
(3) It shall come into force with retrospective efilect from the lst day of March,
2020.
2. After Section 3 of the Chhattisgarh Fiscal Responsibility and Budget Management Amendment of
Act,2005(No. 16 of 2005), the followingshallbeadded,namely'- section 3.
"Provided that fiscal deficits for the financial years 20 I 9 -20 and,2020-2 I shall
not exceed five percent of Gross Domestic Producfi
Provided further that revenue deficit, fiscal deficit and total liabilities as
percentage of Gross Domestic Product may exceed the limits specified under this
provision on the ground or grounds ofunforeseen demands on the finances of the
State arising out of internal disturbance or natural calamity or such other excepional
grounds as the State Government may specifu."
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