Section 2 in Maharashtra Fiscal Responsibility and Budgetary Management Act, 2005
2. Definitions.
- In this Act, unless the context otherwise requires,-(a)"budget" means the annual financial statement laid before both Houses of the State Legislature under article 202 of the Constitution of India;(b)"financial year" means the year beginning on the 1st April and ending on the 31st March of the next following year;(c)"fiscal deficit" means excess of total expenditure of State Government over the total non-debt receipt, and thus represents those borrowing requirements, net of repayment during the year which needs to be serviced by way of interest and principal repayment;(d)"fiscal indicators" means the measures such as numerical ceilings, as may be prescribed, for evaluation of the fiscal position of the State Government;(e)"Government" or "State Government" means the Government of Maharashtra;(f)"prescribed" means prescribed by rules made under this Act;(g)"revenue deficit" means the difference between total revenue expenditure and total revenue receipts;(h)"rules" means rules made under this Act;(i)"States" means the State of Maharashtra;(j)"total liabilities" means liabilities under the Consolidated Fund of the State and the Public Account of the State.
