Amendment of section 2.

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..... (i) after clause (a), the following clause shall be inserted, namely: '(aa) "effective revenue deficit" means the difference between the revenue deficit and grants for creation of capital assets;'; (ii) after clause (b), the following clause shall be inserted, namely: '(bb) "grants for creation of capital assets" means .....

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..... use (d) relating to the Medium-term Expenditure Framework Statement which is also a statement of fiscal policy in addition to the statements of the fiscal policy specified therein. It further seeks to insert new sub-sections (1A) and (1B) in the aforesaid section so as to provide that the statements referred to in clauses (a) to (c) of sub-section (1) shall be followed up with the Medium-term Expe .....

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..... contain the expenditure commitment of major policy changes involving new service, new instruments of service, new schemes and programmes; the explicit contingent liabilities, which are in the form of stipulated annuity payments over a multi-year time-frame; and the detailed breakup of grants for creation of capital assets. It also seeks to amend sub-section (7) of the aforesaid section so as to i .....

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