The West Bengal Fiscal Responsiblity And Budget Management ( Amendment ) Act, 2020

Registered No. IFB/SC-247 No. WB(Part-III)/2020/SAR-8 tlitilkata Extraordinary Published by Authority CHAITRA 7] FRIDAY, MARCH 27, 2020 [SAKA 1942 PART III—Acts of the West Bengal Legislature. GOVERNMENT OF WEST BENGAL LAW DEPARTMENT Legislative NOTIFICATION No. 307-L.-27th March, 2020.—The following Act of the West Bengal Legislature, having been assented to by the Governor, is hereby published for general information:— West Bengal Act IV of 2020 THE WEST BENGAL FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2020. [Passed by the West Bengal Legislature.] [Assent of the Governor was first published in the Kolkata Gazette, Extraordinary, of the 27th March, 2020.] An Act to amend the West Bengal Fiscal Responsibility and Budget Management Act, 2010. Short title and commencement. WHEREAS it is expedient to amend the West Bengal Fiscal Responsibility and Budget Management Act, 2010, for the purposes and in the manner hereinafter appearing; It is hereby enacted in the Seventy-first Year of the Republic of India, by the Legislature of West Bengal, as follows:- 1. (1) This Act may be called the West Bengal Fiscal Responsibility and Budget Management (Amendment) Act, 2020. West Ben. Act XIV of 2010. THE KOLKATA GAZETTE, EXTRAORDINARY, MARCH 27. 2020 [PART III The West Bengal Fiscal Responsibility and Budget Management (Amendment) Act, 2020. (Section 2.) (2) It shall come into force at once. Amendment of section 4 of West Ben. Act XIV of 2. In the West Bengal Fiscal Responsibility and Budget Management Act, 2010, in section 4, in sub-section (2),— (1) in clause (a), at the end, the following paragraph shall be inserted:— "The maximum debt stock of 34.3% of the Gross.State Domestic Product (GSDP) shall be maintained up to the end of financial year 2024-25."; (2) clause (b) shall be omitted; (3) in clause (c), at the end, the following paragraph shall be inserted:— "The State Government shall endeavour to ensure that the fiscal deficit as percentage of Gross State Domestic Product (GSDP) does not exceed 3% in each year up to the end of the financial year 2024-25."; (4) in the first proviso, the words, ", the revenue deficit" shall be omitted; (5) after the second proviso, the following proviso shall be inserted:— "Provided also that the maximum fiscal deficit as percentage of Gross State Domestic Product (GSDP) shall be 3.34% during 2019-2020 only.". By order of the Governor, SANDIP KUMAR RAY CHAUDHURI, Secy. to the Govt. of West Bengal, Law Department. Published by Law Department, Government of West Bengal and Printed at Saraswaty Press Ltd.(Government of West Bengal Enterprise), Kolkata 700 056. Page 1 Page 2