LawgistThe Fiscal Responsibility and Budget Management Act
1Short title, extent and commencement
(1) This Act may be called the Fiscal Responsibility and Budget Management Act, 2003.
(2) It extends to the whole of India.
(3) It shall come into force on such date1 as the Central Government may, by notification in the Official Gazette, appoint in this behalf.
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1. 5th July, 2004, vide notification No. G.S.R. 395(E), dated 2nd July, 2004, see Gazette of India, Extraordinary, Part II, sec. 3(i)
All sections
- 1 Short title, extent and commencement
- 2 Definitions
- 3 Fiscal policy statements to be laid before Parliament
- 4 Fiscal management principles
- 5 Borrowing from Reserve Bank
- 6 Measures for fiscal transparency
- 7 Measures to enforce compliance
- 7A Laying of review reports
- 8 Power to make rules
- 9 Rules to be laid before each House of Parliament
- 10 Protection of action taken in good faith
- 11 Jurisdiction of civil courts barred
- 12 Application of other laws not barred
- 13 Power to remove difficulties
