The manipur fiscal responsibility and budget management (second amendment) act, 2021
This Act amends Manipur’s fiscal responsibility law to change fiscal targets and borrowing limits for specified years, extends to the whole State, and repeals two 2020 ordinances.
MANIPUR ii GAZETTE EXTRAORDINARY PUBLISHED BY AUTHORITY No. 403 Imphal, Frirday, February 26, 2021 (Phalguna 7, 1942) GOVERNMENT OF MANIPUR SECRETARIAT : LAW & LEGISLATIVE AFFAIRS DEPARTMENT NOTIFICATION Imphal, February 23, 2021 No. 2/10/2021-Leg/L: The following Act of the Legislature, Manipur which received assent of the Governor of Manipur on February 20, 2021 is hereby published in the Official Gazette: THE MANIPUR FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (SECOND AMENDMENT) ACT, 2021 (MANIPUR ACT NO. 4 OF 2021) AN ACT further to amend the Manipur Fiscal Responsibility and Budget Management Act, 2005 (Act No. 11 of 2005) to provide amendment in fiscal targets for the years 2019-20 and 2020-21. BE it enacted by the Legislature of Manipur in the Seventy-second Year of the Republic of India as follows :- 1. (1) This Act may be called the Manipur Fiscal Responsibility and ri tide, extent Budget Management (Second Amendment) Act, 2021. commencement. (2) It shall extend to the whole of the State of Manipur. (3) In section 2, (i) for the first proviso, it shall be deemed to have come into force with effect from 26" February,2020 ; and (li) for the second proviso, it shall be deemed to have come into force with effect from 6° October, 2020. Scanned with CamScanner 2 Inclause (I) of ub section(2) of section BOF the Manipur Piseal Responsibility and Hudqet Management Act / A005, the following provisos shall be added, namely S A e m c e ti n o d n m e A nt of " provided that for the financlal year 2019-20, the fiscal defielt target and annual borrowing lirit for The St ate will be anchored to Rs.363 crore (Rupees three hundred and sizty three) crore In addition Co the annual fimit as stated above provided further that the Slate shall be eligible for additional borrowing of upto 2% of Gross State Domestic Product during the financial year 2020-21 only.”. 3. (1) The following Ordinances are hereby repealed | (1) The Manipur | iscal Responsibility and Budget Hepoaland Management (Second Amendment) Ordinance, Z020(Manipur savings Ordinance No.4 of 2020). (ii) The Manipur Fiscal Responsibility and Budget Management (Third Amendment) Ordinance, 2020 (Manipur Ordinance No.5 of 2020), (2) Notwithstanding such repeal, anything done or any action taken under the said Ordinances shall be deemed to have beer done or taken under the corresponding provisions of this Act. NUNGSITTOMBIATHOKPAM, Secretary (Law), Government of Manipur, P r r y i nted w at the Di 1 r ec — torat ‘ e 2 of Pri : nti ‘ ng & S'‘t ati’ oner y, Government of Manipur/255-C/26-02-2021 Scanned with CamScanner