Section 2 in The Goa Fiscal Responsibility and Budget Management Act, 2006
2. Definitions.
- In this Act, unless the context otherwise requires,-(a)"budget" means the annual financial statement laid before the Legislative Assembly under article 202 of the Constitution of India;(b)"current year" means the financial year preceding the ensuing year;(c)"ensuing year" means the financial year for which the budget is being presented;(d)"financial year" means the year beginning on the 1st April and ending on 31st March next following;(e)"fiscal deficit" means the excess of,-(i)total disbursements from the Consolidated Fund of the State (excluding repayment of debt) over total receipts into the Consolidated Fund excluding the debt receipts during a financial year;(ii)total expenditure from the Consolidated Fund of the State (including loans and advances but excluding debt repayment) over own tax and non-tax revenue receipts, devolution and other grants from the Government of India to the State, and non-debt capital receipts during a financial year which represents the borrowing requirements, net of repayment of debt of the State Government during the financial year;(f)"fiscal indicators" means the measures such as numerical ceilings and proportions to gross State domestic product, as may be prescribed, for evaluation of the fiscal position of the State Government;(g)"Government" means the Government of Goa;(h)"Legislative Assembly" means the Legislative Assembly of the State of Goa;(i)"prescribed" means prescribed by rules made under this Act;(j)"revenue deficit" means the difference between revenue expenditure and revenue receipts;(k)"State" means the State of Goa;(l)"total liabilities" means the liabilities under the Consolidated Fund of the State and the Public Account of the State.
