Clause 150 - Amendment of section 8. - FINANCE BILL, 2012

Amendment of section 8.

     150. In section 8 of the Fiscal Responsibility Act, in sub-section (2),—

          (i) after clause (b), the following clause shall be inserted, namely:—

               "(ba) the expenditure indicators with specifications of underlying assumptions and risk involved under clause (a) of sub-section (6A) of section 3;";

          (ii) in clause (c), for the words "Fiscal Policy Strategy Statement", the words "Fiscal Policy Strategy Statement, Medium-term Expenditure Framework Statement" shall be substituted;

          (iii) after clause (c), the following clause shall be inserted, namely:—

               "(ca) the per cent. of revenue deficit to be specified after the 31st March, 2015 under sub-section (1) of section 4;".

 

---

---

 

Notes on Clauses:

Clause 150 seeks to amend sub-section (2) of section 8 of the aforesaid Act relating to power to make rules. It proposes to make certain amendments which are consequential in nature.

This clause will take effect from the date on which this Bill receives the assent of the President.