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GOA FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2022

GOA FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2022

GOA FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2022

[Act No. 10 of 2022]

[26th August, 2022]

PREAMBLE

An Act further to amend the Goa Fiscal Responsibility and Budget Management Act, 2006 (Goa Act 12 of 2006).

Be it enacted by the Legislative Assembly of Goa in the Seventy-third Year of the Republic of India as follows:--

Section 1 - Short title and commencement

(1)     This Act may be called the Goa Fiscal Responsibility and Budget Management (Amendment) Act, 2022.

(2)     It shall be deemed to have come into force on the 1st day of June, 2022.

Section 2 - Amendment of section 5

In section 5 of the Goa Fiscal Responsibility and Budget Management Act, 2006 (Goa Act 12 of 2006), in clause (b), after the existing proviso, the following proviso shall be inserted, namely:--

"Provided further that for the financial year 2022-23, additional fiscal deficit of 1% over and above 3% of the Gross State Domestic Product (upto 4% of GSDP) shall be permissible;"