Section 6 in Rajasthan Fiscal Responsibilities and Budget Management Act, 2005
6. Fiscal Management Targets.
- In Particular and without prejudice to the generality of the foregoing provisions, the State Government shall-(a)reduce revenue deficit to Zero within a period of four financial years beginning from 1.4.2005 and ending on the 31.3.2009 by following a path of average annual reduction of 3 percent in the ratio of revenue deficit to revenue receipts;(b)reduce fiscal deficit to 3 percent of the estimated Gross State Domestic Product by following a path of minimum average annual reduction of 0.4 percent in the ratio of fiscal deficit to estimated Gross State Domestic Product;(c)ensure that total outstanding debt, excluding public account, and risk weighted outstanding guarantees in a year shall not exceed twice of the estimated receipts in the Consolidated Fund of the State at the close of the financial year;(d)ensure to bring out annual statement giving prospects for the State economy and related fiscal strategy;(e)ensure to bring out special statement along with the budget giving in detail number of employees in Government, Public Sector and Aided institutions and related salary;Provided that revenue deficit and fiscal deficit may exceed the limits specified under this section due to ground or grounds of unforeseen demands on the finances of the State Government arising out of national security or natural calamity including famine relief of such other exceptional circumstances beyond the control of the State Government:Provided further that the excess beyond limits arising due to the grounds mentioned in the first proviso shall be explained with a detailed statement on the said grounds, as soon as possible, before the House of the State Legislature.
