Section 4(2) in The Goa Fiscal Responsibility and Budget Management Act, 2006
(2)The Government shall be guided by the following fiscal management principles, namely:-(a)maintain State Government debt at prudent and sustainable level;(b)manage guarantees and other contingent liabilities prudently, with particular reference to quality and level of such liabilities;(c)ensure that borrowings are used for productive purposes and accumulation of capital assets, and are not applied to finance current expenditure;(d)manage expenditure consistent with the level of revenue generated.
