Budget review frequency adjusted to half-yearly; monthly central government accounts required; prescribed levels govern corrective measures. Section 7 is amended to change the Minister's review of receipts and expenditure from quarterly to half-yearly; to require the Central Government to prepare a monthly statement of its accounts; and to substitute the phrase 'prescribed levels' for the earlier reference to 'pre-specified levels mentioned in the Fiscal Policy Strategy Statement and the rules made under this Act,' thereby framing the basis for action on revenue shortfalls or expenditure excesses.
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Provisions expressly mentioned in the judgment/order text.
Budget review frequency adjusted to half-yearly; monthly central government accounts required; prescribed levels govern corrective measures.
Section 7 is amended to change the Minister's review of receipts and expenditure from quarterly to half-yearly; to require the Central Government to prepare a monthly statement of its accounts; and to substitute the phrase "prescribed levels" for the earlier reference to "pre-specified levels mentioned in the Fiscal Policy Strategy Statement and the rules made under this Act," thereby framing the basis for action on revenue shortfalls or expenditure excesses.
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