Section 4(3) in The Arunachal Pradesh Fiscal Responsibility (and Budget Management) Act, 2006
(3)In particular, and without prejudice to the generality of the foregoing provisions, the State Government shall-(a)[ maintain at least the level of revenue surplus in the base year (average of 2001-02 to 2003-04), in the subsequent years beginning from the initial financial year on 1st day of April, 2005 and ending on 31st day of March, 2009. [Substituted by Act No. 14 of 2006, Section 3(1) (w.e.f. 1.4.2005).](b)maintain revenue surplus as a percentage of Gross State Domestic Product (GSDP) in each of the financial year beginning on the 1st day of April, 2005 in a manner consistent with goal set out in clause (a);(c)to reduce fiscal deficit to not more than three percent of the estimated Gross State Domestic Product (GSDP) within a period of four financial years beginning from the initial financial year on the 1st day of April, 2005 and ending on the 31st day of March, 2009.](d)reduce fiscal deficit as a percentage of Gross State Domestic Product (GSDP) in each of the financial year beginning on the 1st day of April, 2005 in a manner consistent with the goal set out in clause (c); and(e)the Constitution of India provides that a State may borrow within the territory of India upon the security of its Consolidated Fund, within such limits as may from time to time be fixed by an Act of its Legislature. But no such Act has been passed by the State so far. However, the State Government will be very conservative in giving guarantee.(f)[ bring special report along with the budget giving in details of numbers of employees in Government, public sector and aided Institutions and related salaries.] [Inserted by Act No. 14 of 2006, Section 3(2) (w.e.f. 1.4.2005).]Provided that [revenue surplus may decrease] [Substituted for the words 'revenue deficit' by Act No. 14 of 2006, Section 3(3) (w.e.f. 1.4.2005).] and fiscal deficit may exceed the limits specified under this sub-section due to ground or grounds of unforeseen demand on the finances of the State Government due to national security or natural calamity, subject to the condition that the excess beyond limits arising due to natural calamities does not exceed the actual fiscal cost that can be attributed to the calamities :Provided further that the ground or grounds specified in the first proviso shall be placed before the House of Legislature, as soon as may be, after it becomes likely that such deficit amount may exceed the aforesaid limits, with an accompanying report stating the likely extent of excess, and reasons therefor.
