THE KARNATAKA FISCAL RESPONSIBILITY (AMENDMENT) ACT, 2014
(Received the assent of the Governor on the twenty eighth day of February, 2014)
KARNATAKA ACT NO. 17 OF 2014
(First Published in the Karnataka Gazette Extra-ordinary on the twenty eighth day of February, 2014)
An Act further to amend the Karnataka Fiscal responsibility Act, 2002.
Whereas it is expedient further to amend the Karnataka Fiscal Responsibility Act, 2002 (Karnataka Act 16 of 2002) for the purposes hereinafter appearing;
Be it enacted by the Karnataka State Legislature in the Sixty fifth year of the Republic of India as follows:-
1. Short title and commencement.- (1) This Act may be called the Karnataka Fiscal Responsibility (Amendment) Act, 2014.
(2) It shall come into force at once.
2. Amendment of section 2.- In the Karnataka Fiscal Responsibility Act, 2002 (Karnataka Act 16 of 2002), in section 2,-
(i) in clause (c), item (ii) and explanation there under shall be omitted; and
(ii) in clause (g), after the words "the public account of the State", the words "and shall also include borrowings by the Public Sector Undertakings and the Special Purpose Vehicles and other equivalent instruments where the principal and/ or interest are to be serviced out of the State Budget." shall be inserted.
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