Section 2 in Tamil Nadu Fiscal Responsibility Act, 2003
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;(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 the 31st March next following;(e)[ "fiscal deficit" means the excess of 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;] [Substituted by the Tamil Nadu Fiscal Responsibility (Amendment) Act, 2004 (Tamil Nadu Act 6 of 2004](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)"previous year" means the financial year preceding the current year;(gg)[ "Revenue deficit" means the excess of revenue expenditure over revenue receipt;] [Inserted by the Tamil Nadu Fiscal Responsibility (Amendment) Act, 2004 (Tamil Nadu Act 6 of 2004).](h)"total liabilities" means the liabilities under the Consolidated Fund of the State and the Public Account of the State.
