Section 3 in The Bihar Fiscal Responsibility and Budget Management Act, 2006
3. Fiscal Management Objectives.
- The State Government shall:-(a)[ for fiscal reform path the State on attaining a zero revenue deficit or revenue surplus in 2007-08 shall have to achieve a fiscal deficit of 3 percent of Gross State Domestic Product by 2011-12 and maintain such thereafter.] [Substituted by Bihar Act 25, 2010.](b)pursue policies to raise non-tax revenue with due regard to cost recovery and equity; and(c)lay down norms for prioritisation of capital expenditure, and pursue expenditure policies that would provide impetus for economic growth, poverty reduction and improvement in human welfare.
