Fiscal Responsibility and Budget Management Act, 2003
Bare Act · 2003
An Act to provide for the responsibility of the Central Government to ensure inter-generational equity in fiscal management and long-term macro-economic stability by 1 *** removing fiscal impediments in the effective conduct of monetary policy and prudential debt management consistent with fiscal sustainability through limits on the Central Government borrowings, debt and deficits, greater transparency in fiscal operations of the Central Government and conducting fiscal policy in a medium-term framework and for matters connected therewith or incidental thereto.
- Act number
- 39 of 2003
- Enacted
- 26 August 2003
- Contents
- 14 sections
The first 5 sections are free to read. Sign in free to read the rest.
Contents
- Section 1 – Short title, extent and commencement
- Section 2 – Definitions
- Section 3 – Fiscal policy statements to be laid before Parliament
- Section 4 – Fiscal management principles
- Section 5 – Borrowing from Reserve Bank
- Section 6 – Measures for fiscal transparency (preview)
- Section 7 – Measures to enforce compliance (preview)
- Section 7A – Laying of review reports (preview)
- Section 8 – Power to make rules (preview)
- Section 9 – Rules to be laid before each House of Parliament (preview)
- Section 10 – Protection of action taken in good faith (preview)
- Section 11 – Jurisdiction of civil courts barred (preview)
- Section 12 – Application of other laws not barred (preview)
- Section 13 – Power to remove difficulties (preview)