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State of Goa - Section

Section 5 in The Goa Fiscal Responsibility and Budget Management Rules, 2007

5. Measures to enforce compliance.

- In case the outcome of the quarterly reviews of trends in receipts and expenditure, at the end of the second quarter of any financial year shows that-
(i)the total non-debt receipts are less than 40 per cent of Budget Estimates for that year; or
(ii)the fiscal deficit is higher than 45 per cent of the Budget Estimates for that year; or
(iii)the revenue deficit is higher than 45 per cent of the Budget Estimates for that year;
then -as required under sub-section (2) of section 7 of the said Act, the Minister-in-charge of the Ministry of Finance shall make a statement in the Legislature during the session immediately following the end of the second quarter detailing the corrective measures taken and the prospects for the fiscal deficit of that financial year.Form F-1(See Rule 3)A. Fiscal Indicators-Rolling Targets
    Previous Year (Y-2) Actuals Current Year (Y-1) Budget Estimates(BE) Current Year (Y-1) Revised Estimates(RE) Ensuing Year (Y) Revised Estimates(BE) Targets for next Two YearsY+1Y+2
1. Revenue Deficit as percentage of GSDP          
2. Revenue Deficit as percentage of Total Revenue Receipts          
3. Fiscal Deficit as Percentage of GSDP          
4. Total outstanding Liabilities as percentage of GSDP          
5. [Any additional target(s)]          
B. Assumption underlying the Fiscal Indicators