Section 7(5) in The Meghalaya Fiscal Responsibility and Budget Management Act, 2006
(5)the Fiscal Policy Strategy Statement shall be in such form as may be prescribed and shall contain, inter alia,-(i)the fiscal polices of Government for the ensuing year relating to taxation, expenditure, borrowings and other liabilities (including borrowings by Public Sector Undertakings and Special Purpose Vehicle and other equivalent instruments where the liability for repayment is on Government), lending investments, other contingent liabilities, user charges on pubic goods/utilities and guarantees of Public Sector Undertakings which have potential budgetary implications;(ii)the strategic priorities of Government in the fiscal area for the ensuing year;(iii)the key fiscal measures and the rationale for any major deviation in fiscal measures pertaining to taxation, subsidy, expenditure borrowings and user charges on public goods/utilities;(iv)an evaluation of the current policies of Government vis-a-vis the fiscal management principles set out in section 5 the fiscal objectives set out in the Medium Term Fiscal Policy Statement under sub-section (3) of Section 7 and fiscal targets set out in Section 4.
