THE JAMMU AND KASHMIR FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2011
(Act No. VIII of 2011)
[9th April, 2011]
An Act to amend the Jammu and Kashmir Fiscal Responsibility and Budget Management Act, 2006.
Be it enacted by the Jammu and Kashmir State Legislature in the Sixty-second Year of the Republic of India as follows:–
1. Short title and commencement. –
(1) This Act may be called the Jammu and Kashmir Fiscal Responsibility and Budget Management (Amendment) Act, 2011.
(2) It shall come into force from the date of its publication in the Government Gazette.
2. Amendment of section 9, Act XXII of 2006. –
In section 9 of the Jammu and Kashmir Fiscal Responsibility and Budget Management Act, 2006, in sub-section (2), for clause (c), the following clause shall be substituted, namely:–
“(c) reduce fiscal deficit with equi-proportional adjustments each year to 5.3 per cent, 4.7 per cent, 4.2 per cent and 3.6 per cent of GSDP respectively for the years 2010-11, 2011-12, 2012-13 and 2013-14 to reach 3.0 per cent in the year 2014-15.”. |
