The JHARKHAND FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2012

[JHARKHAND ACT 11 OF 2012] 
THE JHARKHAND FISCAL RESPONSIBILITY AND 
BUDGET MANAGEMENT (AMENDMENT) ACT, 2012  
AN 
ACT 
                                                                                                         [31 st  March, 2012] 
              To amend the Jharkhand Fiscal Respons ibility and Budget 
Management Act, 2007 (Act  07,  2007)  in pursuance of the Government of India’s 
policy on State’s Fiscal Consolidation for the financial year 2010-15. 
  Be it enacted by the Legislative Assembly of Jhar khand in the sixty 
third year of the Republic of India as follows:- 
1. Short title extent and commencement; 
(i) This Act may be called the Jharkhand Fiscal Respons ibility and 
Budget management 
(Amendment ) Act 2012. 
(ii) It shall extent to the whole of the state of Jharkhand. 
(iii) It shall come into force from date of the notificat ion in the official 
Gazette. 
 
2. Amendment in Section 5(1)(a) and 5(1)(b) of Jharkha nd Fiscal 
Responsibility and Budget Management Act, 2007. 
 
(i)          Section 5(1)(a)  of the said Act shall be substituted as follows : - 
                         “Achieving the targets of Revenue Deficit Nil at the 
end of 31 
st  March, 2012 and maintaining this till financial ye ar 2014-
15.” 
(ii)        Section   5(1)(b) of the said Act shall be substituted as  follows : - 
                         “Reducing Fiscal Deficit t o 3%  (three percent) of the 
estimated Gross State Domestic Product at the end o f 31 st  March ,  
2012  and maintaining this till financial year 2014- 15.” 
 
 
3.   Repeal and Saving : - 
 
(i)  Repeal  :  Jharkhand Fiscal Responsibility and Budget  Management 
(Amendment) Ordinance, 2012 (Jharkhand  Ordinance  No. 01,  
2012)  is hereby repealed. 
(ii) Saving   :   Notwithstanding such repeal, any order issued  in the 
exercise of power conferred by or under the said Ordinance shall be 
deemed to have been done or taken in exercise of po wers 
conferred by or under this Act , as if , this Act w ere enforce on the 
day on which such things was done or action taken. 
 
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