The Assam Fiscal Responsibility and Budget Management (Amendment) Act, 2007
                     - [c]tQjk/j»n **Registered No. 768/97**

#### 'J/

# THE ASSAM GAZETTE

### >5pm rr<«r
 EXTRAORDINARY

## m  w tRnfe

#### PUBLISHED BY THE AUTHORITY

288 4W L 29 W it, 2007, 7 1929 (’W)

No. 288 Dispur, Wednesday, 29th August, 2007, 7th Bhadra, 1929(S.E.)

GOVERNMENT OF ASSAM

ORDERS BY THE GOVERNOR

LEGISLATIVE DEPARTMENT :: LEGISLATIVE BRANCH

##### NOTIFICATION

The 28th August, 2007

##### No. LGL. 59/2005/42. —The following Act of the Assam Legislative Assembly which

received the assent of the Governor is hereby published for general information.

ASSAM ACT NO. XVII OF 2007

(Received the assent of the Governor on 24th August, 2007)

##### THE ASSAM FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT
 (AMENDMENT) ACT, 2007

AN

ACT


-----

1866 THE ASSAM GAZETTE, EXTRAORDINARY. AUGUST 29, 2007___

further to amend the Assam fiscal Responsibility and Budget

Management Act, 2005.

Preamble Whereas it is expedient further to amend the Assam Fiscal Assam Act

Responsibility and Budget Management Act, 2005, hereinafter XXVII
referred to as the principal .Act, in the manner hereinafter of2005
appearing;

It is hereby enacted in the Fifty-eighth Year of the Republic

of India as follows: -

Short title, 1. (1) This Act may be called the Assam Fiscal

extent and Responsibility and Budget Management
commencement (Amendment) Act. 2007.

(2) It shall have the like extent as the principal Act.

(3) It shall be deemed to have come into force on the first

day of September, 2005, the day on which the
principal Act came into force, save and except clause
(iv) of section 2 of this Act which shall come into
force at once

Amendment of 2. In the principal Act. in section 4. in sub-section (3). -
Section 4 (i) for the existing clause (ii), the following shall he

substituted, namely : -

“(ii) reduce revenue deficit annually at an average annual

reduction rate consistent with the goal set out in clause

(ii) for the existing clause (vi), the following shall be

substituted, namely : -

“(G) 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 Slate 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 foilowing

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.”

MOHD. A. HAQUE,

Secretary to the Government of Assam,

Legislative Department.


-----

