Section 2 in The Gujarat Fiscal Responsibility Act, 2005
2. Definitions.
(1)In this Act, unless the context otherwise requires,-(a)"budget" means the annual financial statement to be laid before the State Legislature under Clause (1) of article 202 of the Constitution of India;(b)"current year" means the year preceding the year for which budget is being presented;(c)"fiscal deficit" means the excess of total disbursements from the Consolidated Fund of the State (excluding repayment of debt) over total receipt into the Fund (excluding the debt receipts) during financial year;(d)"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.(e)"prescribed" means prescribed by rules made under this Act;(f)"previous year" means the year preceding the current year;(g)"revenue deficit" means difference between revenue expenditure and revenue receipts which indicates increase in liability of the State Government without corresponding increase in assets of the Government.(h)"State Government" means the State Government of Gujarat;(i)"total liabilities" means the liabilities under the Consolidated Fund of the State of Gujarat and the public account of the State;(j)"triggers" means intra-year benchmark on deficit.
