Fiscal deficit limit set for central government with prescribed annual targets, controlled deviations, and mandated Parliamentary explanation. The amendment requires the Central Government to limit the fiscal deficit to a statutory ceiling by a target date, pursue specified debt ceilings, cap additional guarantees on Consolidated Fund security, prescribe annual fiscal deficit reduction targets for the transitional period, allow limited deviations for enumerated extraordinary reasons, mandate fiscal consolidation when output growth materially exceeds trend, and lay a Parliamentary statement explaining any permitted deviation and the path back to prescribed targets.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Fiscal deficit limit set for central government with prescribed annual targets, controlled deviations, and mandated Parliamentary explanation.
The amendment requires the Central Government to limit the fiscal deficit to a statutory ceiling by a target date, pursue specified debt ceilings, cap additional guarantees on Consolidated Fund security, prescribe annual fiscal deficit reduction targets for the transitional period, allow limited deviations for enumerated extraordinary reasons, mandate fiscal consolidation when output growth materially exceeds trend, and lay a Parliamentary statement explaining any permitted deviation and the path back to prescribed targets.
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