Section 9 in The Bihar Fiscal Responsibility and Budget Management Act, 2006
9. Fiscal Targets.
(1)The State Government may prescribe such targets as may be deemed necessary for giving effect to the fiscal management objectives.(2)In particular, and without prejudice to the generality of the foregoing provisions, the State Government shall-(a)beginning from financial year 2006-07 and in case there being revenue deficit, reduce revenue deficit/Gross State Domestic Product ratio every year by at least 0.1 per cent depending upon the economic situation, eliminate revenue deficit by 2008-09 and generate revenue surplus thereafter;(b)[ in the financial year 2010-11 bring the fiscal deficit/ Gross State Domestic Product ratio 3.5 percent and it shall be 3 percent and it shall be 3 percent in 2011-12 and maintain such upto year 2014-15.] [Substgituted by Bihar Act 25, 2010.](c)[ bring Debt as percent of Gross State Domestic Product in the financial year 2010-11, 2011-12, 2012-13, 2013-14 and 2014-15 to 48.2, 46.4, 44.6, 43.0 and 41.6 respectively.] [Added by Bihar Act 25, 2010.]Provided that revenue deficit and fiscal deficit may exceed the limits specified under this Section due to unforeseen circumstances arising out of internal disturbance or natural calamity or such other exceptional grounds as the State Government may specify:Provided further that a statement in respect of the ground or grounds' specified in the first proviso shall be placed before the House or Houses of the Legislature, as soon as may be, after such deficit amount exceeds the aforesaid targets.
