The Assam Fiscal Responsibility and Budget Management (Amendment) Act, 2007
Assam Act No. 17 of 2007
Last Updated 12th February, 2020 [ass296]
(i) for the existing clause (ii), the following shall be substituted, namely-
"(ii) reduce revenue deficit annually at an average annual reduction rate consistent with the goal set out in clause (i);"
(ii) for the existing clause (vi), the following shall be substituted, namely :-
"(vi) reduce fiscal deficit. annually as a percentage of Gross State Domestic Product at an average reduction rate consistent with the goal set out in clause (v)
(iii) for the existing clause (viii), the following shall be substituted, namely:-
"(viii) State Government guarantee for the loans contracted by Public Sector Undertakings, Boards, Companies, Corporations, Cooperative Societies or Autonomous organizations under the State Government, shall be restricted at any point of time to fifty percent of State's own tax and non-tax revenue of the second preceding year, as reflected in the books of accounts as maintained by the Accountant General;"
(iv) after the existing proviso of clause (viii), the following shall be inserted as clause (ix), namely :-
"(ix) ensure to bring out special statement along with the annual budget giving in detail, number of employees in Government, Public Sector and Aided institutions and related salary."