Section 2 in The Maharashtra Fiscal Responsibility and Budgetary Management Rules, 2006
2. Definitions.
- In these rules, unless the context otherwise requires,-(a)"Act" means the Maharashtra Fiscal Responsibility and Budgetary Management Act, 2005;(b)"Contingent Liabilities" means outstanding guarantees given by the State Government for borrowings by Public Sector Undertakings and Special Purpose Vehicles and other equivalent instruments for which the State Government may be called upon to make payment in case of default by the borrowing organizations;(c)"Current Year" means the year preceding the year for which the budget and medium term fiscal policy are being presented;(d)"Debt Stock" means the total debt outstanding at the end of the financial year;(e)"Ensuing Year" means the year for which the budget is being presented;(f)"Form" means a form appended to these rules;(g)"GSDP" means Gross State Domestic product at current prices;(h)"Off Budget Borrowings" means non-budgetary receipts that need to be serviced by way of interest and principal repayment directly from the budget and in which the liability is not contingent in nature;(i)"Previous Year" means the year preceding the current year;(j)"section" means a section of the Act;(k)Words and expressions used in these rules but not defined shall have the meanings respectively assigned to them in the Act.
