Assam Local Self-Government Fiscal Responsibility Act, 2011

No: 20 Dated: Sep, 06 2011

THE ASSAM LOCAL SELF-GOVERNMENT FISCAL RESPONSIBILITY ACT, 2011

ASSAM ACT NO. XX OF 2011

    An Act to provide for the responsibility of Local Self-Governments to ensure best practice of prudent and financ ial management of their funds, in order' to enhance the- scope for improving social and physical infrastructure and human development, facilitate citizen’s participation and transparency, adopt appropriate systems for fostering greater transparency in fiscal operations with the use of a medium term fiscal framework, and for matters connected therewith or incidental thereto;

    Preamble:- Whereas it is expedient to provide for the responsibility o f Local Self-Governments to ensure best practice of prudent and financial management of their funds, in order to enhance the scope for improving social and physical infrastructure and human development, facilitate citizen’s participation and transparency, adopt appropriate system s for fostering greater transparency in fiscal operations with the use of a medium term fiscal framework, and for matters connected therewith or incidental thereto;

    It is hereby enacted in the Sixty-second Year of the Republic of the India as follows: -

1. Short title, extent and commencement:- (1) This Act may be called the Assam Local Sclf-Govemmeht Fiscal Responsibility Act, 2011.

(2) It extends to the Local Self-Governments constituted under Part IX and IX-A of the Constitution of India as may be notified by the State Government from time to time.

(3) It shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint.

2. Definitions:- In this Act, unless the context otherwise requires, -

(a) “Local Self-Government Fund” means the revenue administered by Panchayati Raj Institutions and Urban Local Bodies constituted under Part IX and IX-A o f the Constitution of India and created by the State Government for Panchayats at the District, Intermediate and Village levels in terms of Article 243H (d) of the Constitution and for Municipalities in terms of Article 243X (d) of the Constitution;

(b) “Local Self-Government” means the Panchayati Raj Institutions and Urban Local Bodies constituted under Part IX and IX-A o f the Constitution o f India;

(c) “accounting standard” means such accounting standards in respect of Local Self-Governments, as may be prescribed;

(d) “annual budget” means the budget placed before the Local SelfGovernment concerned as pe r the relevant Acts or the rules made thereunder;

(e) “budget variance” means the difference between the budgeted amount and the actuals for the financial year;

(f) “Controlling Authority” means any officer appointed as controlling authority by the State Government for the purpose of this Act and different controlling authorities may be appointed in respect of different Local Self-Governments;

(g) “current year” means the year preceding the year for which budget and Medium Term Fiscal Plan (MTFP) being presented;

(h) “fiscal indicators” means such measures as may be prescribed, for evaluation of fiscal position o f Local Self-Governments;

(i) “previous year” means the year preceding the current year;

(j) “State Government" means the State Government of Assam in the Finance Department.