KARNATAKA FISCAL RESPONSIBILITY ACT, 2002

An Act to provide for the responsibility of the State Government to ensure fiscal stability and sustainability, and to enhance the scope for improving social and physical infrastructure and human development by achieving sufficient revenue surplus, reducing fiscal deficit and removing impediments to the effective conduct of fiscal policy and prudent debt anagement through limits on State Government borrowings, debt and deficits, greater transparency in fiscal operations of the State Government and use of a medium-term fiscal framework and for matters connected therewith or incidental thereto

Act number

Act 16 of 2002

Year

2002

Enacted on

27-08-2002

In force from

01-04-2003

Jurisdiction

Karnataka State Act

Subjects

Public Finance

Read the full text of KARNATAKA FISCAL RESPONSIBILITY ACT, 2002 section by section on LawLens.

Official source: India Code