THE JHARKHAND FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2012

[JHARKHAND ACT 11 OF 2012] 

THE JHARKHAND FISCAL RESPONSIBILITY AND 

BUDGET MANAGEMENT (AMENDMENT) ACT, 2012 

AN 

ACT 

                                                                                                         [31
st

 March, 2012] 

              To amend the Jharkhand Fiscal Responsibility and Budget 

Management Act, 2007 (Act  07,  2007)  in pursuance of the Government of India’s 

policy on State’s Fiscal Consolidation for the financial year 2010-15. 

  Be it enacted by the Legislative Assembly of Jharkhand in the sixty 

third year of the Republic of India as follows:- 

1. Short title extent and commencement; 

(i) This Act may be called the Jharkhand Fiscal Responsibility and 

Budget management 

(Amendment ) Act 2012. 

(ii) It shall extent to the whole of the state of Jharkhand. 

(iii) It shall come into force from date of the notification in the official 

Gazette. 

 

2. Amendment in Section 5(1)(a) and 5(1)(b) of Jharkhand Fiscal 

Responsibility and Budget Management Act, 2007. 

 

(i)          Section 5(1)(a)  of the said Act shall be substituted as follows : - 

                         “Achieving the targets of Revenue Deficit Nil at the 

end of 31
st

 March, 2012 and maintaining this till financial year 2014-

15.” 

(ii)        Section   5(1)(b) of the said Act shall be substituted as  follows : - 

                         “Reducing Fiscal Deficit to 3%  (three percent) of the 

estimated Gross State Domestic Product at the end of 31
st

 March ,  

2012  and maintaining this till financial year 2014- 15.” 

 

 



3.   Repeal and Saving : - 

 

(i)  Repeal  :  Jharkhand Fiscal Responsibility and Budget  Management 

(Amendment) Ordinance, 2012 (Jharkhand  Ordinance  No. 01,  

2012)  is hereby repealed. 

(ii) Saving  :   Notwithstanding such repeal, any order issued in the 

exercise of power conferred by or under the said Ordinance shall be 

deemed to have been done or taken in exercise of powers 

conferred by or under this Act , as if , this Act were enforce on the 

day on which such things was done or action taken. 

 

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