Section 2 in The Jharkhand Fiscal Responsibility and Budget Management Act, 2007
2. Definitions.
- In this Act unless the context otherwise requires.-(i)"Budget" means the annual financial statement laid to be before the State Legislature under clause (1) Article 202 of the Constitution;(ii)"Current Year" means the financial year for which Budget and Medium Term Fiscal Plan (MTFP) is being presented;(iii)"Financial Year" means the year beginning 1st of April and ending on the 31 st of March of the following year;(iv)jktdks"kh; ?kkVk ls vfHkizsr gS foRrh; o"kZ ds nkSjku jkT; dh lafpr fuf/k esa dqy tek (_.k tek dks NksM+dj) ls vf/kd gksus okyk] _.k ds iquHkqZxrku dks] NksM+dj ldy O;;"">["Fiscal Deficit"] means the excess of.-total disbursements from the Consolidated Fund of the State (excluding repayment of debt) over total receipts into the Fund excluding the debt receipts during a financial year;(v)"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;(vi)"Non Interest Committed Revenue Expenditure" means the sum, total of salary expenditure and pension expenditure of the State in the revenue account of the Consolidated Fund of the State;(vii)"Off Budget Borrowings" means borrowings by the State Government or its Agencies which are not reflected in the Budget;(viii)"Prescribed" means prescribed by rules made under this Bill;(ix)"Previous Year" means the year preceding the current year;(x)"Primary Deficit/Surplus" means the non-interest Fiscal Deficit/Surplus;(xi)"Reserve Bank" means the Reserve Bank of India constituted under of Reserve Bank of India Act, 1934;(xii)"Revenue Deficit" means the difference between revenue expenditure and revenue receipts which indicates increase in liabilities of the State Government without corresponding increase in assets of the State Government; and(xiii)"Total Liabilities" means the liabilities under the Consolidated Fund and the Public Account of the State of Jharkhand.
