Section 2(b) in Punjab Fiscal Responsibility and Budget Management Act, 2003
(b)["fiscal deficit" means revenue deficit, plus budgetary capital expenditure including net loans advanced, minus other non-debt capital receipts.] [Substituted for 'fiscal deficit' means the excess of expenditure, revenue expenditure and capital expenditure including loans, net of recoveries, over the revenue receipts and non-debt capital receipts.' by Punjab Act No. 1 of 2006.] It is, however, made clear that for the purpose of this definition, off budget borrowings shall be treated as borrowings by the State Government, and the expenditure incurred on subsidies due to the enterprises in the power sector whether paid or not, shall be treated as expenditure by the State Government;
