THE KARNATAKA FISCAL RESPONSIBILITY (SECOND AMENDMENT) ACT, 2009
KARNATAKA ACT No. 14 OF 2009
(First published in the Karnataka Gazette Extra-ordinary on the Thirty first day of July, 2009)
(Received the assent of the Governor on the Thirty first day of July, 2009) 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 Sixtieth year of the Republic of India as follows:-
1. Short Title and Commencement.- (1) This Act may be called the Karnataka Fiscal Responsibility (Second Amendment) Act, 2009.
(2) It shall be deemed to have come into force with effect from the first day of April, 2009.
2. Amendment of Section 4.- In the Karnataka Fiscal Responsibility Act, 2002 (Karnataka Act 16 of 2002), in section 4, in sub-section (3), after the second proviso, the following shall be inserted, namely:-
“Provided also that the fiscal deficit during the financial year 2009-10 shall not exceed four percent of estimated Gross State Domestic Product.”
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