Panaji, 21st March, 2022 (Phalguna 30, 1943) SERIES I No. 51 PUBLISHED BY AUTHORITY
EXTRAORDINARY
GOVERNMENT OF GOA
(Amendment) Ordinance 2022 (Ordinance No. 1 of 2022).
Department of Law Legal Affairs Division __
An Ordinance further to amend the Goa Fiscal Responsibility and Budget Management Act, 2006 (Goa Act 12 of 2006).
Notification
8/1/2022-LA
The Goa Fiscal Responsibility and Budget
Management (Amendment) Ordinance,
2022 (Ordinance No. 1 of 2022), which has
been promulgated by the Governor of Goa
on 09-03-2022, is hereby published for
general information of the public.
Whereas, due to methodology adopted by the Fifteenth Finance Commission, the Ministry of Finance, Government of India vide letter No. 40(2)PF-S/2020-21 dated 31-03-2021 has allowed borrowing to the extent of 4% of GSDP for the financial year 2021-22 subject to carrying out the necessary amendments to the Goa Fiscal Responsibility and Budget Management Act, 2006 (Goa Act 12 of 2006);
D. S. Raut Dessai, Joint Secretary (Law).
Porvorim, 21st March, 2022.
———
And whereas, the Legislative Assembly of Goa is not in session and the Governor of Goa is satisfied that circumstances exist which render it necessary for him to take immediate action.
The Goa Fiscal Responsibility and Budget Management (Amendment) Ordinance, 2022
(Ordinance No. 1 of 2022)
Promulgated by the Governor of Goa in the
Seventy-third Year of the Republic of India.
Now, therefore, in exercise of the powers conferred by clause (1) of article 213 of the Constitution of India, the Governor of Goa is pleased to promulgate the following Ordinance, namely:—
I, P. S. Sreedharan Pillai, Governor of Goa,
in the Seventy-third Year of the Republic OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 51 (EXTRAORDINARY) 21ST MARCH, 2022 "Provided further that for the financial year (2) It shall be deemed to have come into
force on the 1st day of June, 2021.
2021-22, additional fiscal deficit of 1% over and
above 3% of the Gross State Domestic Product
(upto 4% of GSDP) shall be permissible.".
Place: Raj Bhavan P. S. SREEDHARAN PILLAI, 2. Amendment of section 5.— In section 5 of the Goa Fiscal Responsibility and Budget Management Act, 2006 (Goa Act 12 of 2006), in clause (b), after the existing proviso, the following proviso shall be inserted, namely:— Dated: 9-3-2022 Governer of Goa.
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