Section 3 in The Meghalaya Fiscal Responsibility and Budget Management Act, 2006
3. Fiscal management objectives.
- The State Government shall-(a)Undertake appropriate measures to facilitate generation of revenue surplus, contain BCR and reduce fiscal deficit in a phased manner and thereafter build up adequate surplus revenue and to utilise the same for the purpose of discharging the liabilities or for developmental expenditures;(b)pursue policies to raise non tax revenue with due emphasis on cost recovery and equity;(c)lay down norms to prioritise capital expenditure and to pursue expenditure policies that would provide impetus for economic growth with social equity and improvement in poverty reduction and human welfare.
