THE MADHYA PRADESH RAJKOSHIYA
UTTARDAYITVA AVAM BUDGET PRABANDHAN NIYAM, 2006[1] In exercise of the powers conferred by
sub-section (1) and sub-section (2) of Section 12 of the Madhya Pradesh
Rajkoshiya Uttardayitva Avam Budget Prabandhan Adhiniyam, 2005 (No. 18 of
2005), the State Government hereby makes the following rules, namely : (1)
These rules may be called the Madhya Pradesh
Rajkoshiya Uttardayitva Avam Budget Prabandhan Niyam, 2006. (2)
They shall come into force with effect from
the date of its publication in the Madhya Pradesh Gazette. (1)
In these rules, unless the context otherwise
requires : (a)
"Act" means the Madhya Pradesh
Rajkoshiya Uttardayitva Avam Budget Prabandhan Adhiniyam, 2005 (No. 18 of
2005); (b)
"Form" means a form appended to
these rules; (c)
"Section" means a section of the
Act; (d)
"Previous Year" means the financial
year preceding of the current year; (e)
"State Government" means the
Government of Madhya Pradesh. (2)
Words and expressions used herein but not
defined and defined in the Act shall have the same meanings as assigned to them
in the Act. The Macroeconomic Framework Statement
as required under Section 6, shall be in Form F-1. (1)
The Medium Term Fiscal Policy Statement, as
required under sub-section (1) of Section 7, shall be in Form F-2 which shall
include five year rolling targets in respect of the following fiscal indicators
: (a)
revenue deficit as a percentage of GSDP; (b)
fiscal deficit as a percentage of GSDP; (c)
outstanding total liabilities as a percentage
of GSDP. (2)
The Medium Term Fiscal Policy Statement shall
also explain the assumptions underlying the above mentioned targets for fiscal
indicators and an assessment of sustainability relating to the items indicated
in sub-section (2) of Section 7 of the Act. (1)
The Fiscal Policy Strategy Statement as
required under Section 8 shall be in Form F-3. The total revenue receipts mentioned
in clause (d) of sub-section (2) of Section 9 of the Act shall not include any
receipt, which is transitory in nature. (1)
The State Government shall, at the time of
presenting the budget, make disclosures as required under Section 10 of the Act
in the following statements, namely : (a)
a statement of select indicators of fiscal
situation in Form F-4; (b)
a statement on components of State Government
liabilities and interest cost of borrowings/mobilisation of deposits in Form
F-5; (c)
a statement on the Consolidated Sinking Fund
in Form F-6; (d)
a statement on guarantees given by the
Government in Form F-7; (e)
a statement on the Guarantee Redemption Fund
in Form F-8; (f)
a statement of financial assets in Form F-9; (g)
a statement on claims and commitments made by
the State Government on revenue demands raised but not realised in Form F-10; (h)
a statement on the details of number of
employees in the State Government, State Public Sector Undertakings and State
aided institution and related salaries in Form F-11. (2)
The provisions of sub-rule (1) shall be
complied with not later than one year from the date of coming into force of the
Act. In case the outcome of the half-yearly
reviews of trends in receipts and expenditure, at the end of the second quarter
of any financial year shows that: (i)
the total non-debt receipts are less than 10
per cent of Budget Estimates for that period; or (ii)
the fiscal definite is higher than the Budget
Estimates for that year by 10 per cent; or (iii)
the revenue deficit is higher than the Budget
Estimates for that year by 10 per cent; then; (a)
the State Government shall take appropriate
measures as required under sub-section (2) of Section 11; and (b)
as required under clause (b) of sub-section
(3) of Section 11 of the Act, the Minister-in-charge of the Ministry of Finance
shall make a statement immediately following the end of the second quarter
detailing the corrective measures taken and the prospects for the fiscal
deficit of that financial years. A review of the compliance of the
provisions of these rules shall be done once in two years by an agency to be
appointed by the State Government and such reviews shall be laid on the table
of State Legislature. [1] Vide
Notification No. 29 F-15-6/2005-IV-B-EPAU, dated 30-1-2006. Published in the
M.P. Rajpatra (Asadharan), dated 30-1-2006, at pp. 98 (10-20).THE MADHYA PRADESH RAJKOSHIYA UTTARDAYITVA AVAM BUDGET
PRABANDHAN NIYAM, 2006
PREAMBLE