Nagaland · 2011 · Act 9
The Nagaland Fiscal Responsibility and Budget Management (Amendment) Act, 2011
In forceFull text· FINANCE
This Act is not split into sections here yet, so this is the full text read from its official PDF. Older scans can carry reading errors: check the PDF before you quote it, and for tables and schedules.
The Nagaland Fiscal Responsibility and budget management (Amendment)
Act, 2011
(Act No. 9 of 2011)
Received theassent ofthe Govemoron2.6.2011 and published in theNagaland
Gazette Extraodinary dated 29* June 201 1.
To further amend the Nagaland Fiscal responsibility and Budget management
Act, 2005.
Be it enacted by theNagaland LegislativeAssembly in the sixty-second year of
the Republic of India as follows:-
1. Short Titleand Commencement
(1) This Act may be called theNagaland Fiscal Responsibility and Budget
Management (Amendment)Act, 201 1.
(2) It shall come into force with immediate effect.
2. Amendment of Seetion 9:-
Section 9 clause 2 sub-clause (i) ofthe Principal Act shall be substituted by the
following-
"Incur zero revenue deficit or achieve revenue surplus during each of the years
2010-11,2011-12 2012-13-2013-14 and 2014-15;"
Section 9 clause2 sub-clause (ii) ofthe Principal Act shall be substituted by the
following:-
"Achieve fiscal deficit of 3% of projected Gross State Domestic Product (GSDP)
by theyear ending 3 l"March2015. TheFiscal Deficitpath forthe State shall be
3.5% of projected GSDP for the years 201 1-12 and 2012-13 and 3% of
Projected GSDP forthe years 2013-14 and 2014-15;"
Section 9 clause 2 sub-clause (iii) of the Principal Act shall be substituted by the
following:-
"Reduce the debt to GSDP ratio and achieve the following targets - 56.8% in
2010-1 1,55.8% in2011-12,54.9%in2012-13,53.5% in2013-14and 52.3%
in2014-15;"