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39/2003 - The Fiscal Responsibility and Budget Management Act, 2003 ▶

Act Number: 39

Act Name: The Fiscal Responsibility and Budget Management Act, 2003

Year: 2003

Enactment Date: 2003-08-26

Long Title: An Act to provide for the responsibility of the Central Government to ensure inter-generational equity in fiscal management and long-term macro-economic stability by achieving sufficient revenue surplus and removing fiscal impediments in the effective conduct of monetary policy and prudential debt management consistent with fiscal sustainability through limits on the Central Government borrowings, debt and deficits, greater transparency in fiscal operations of the Central Government and conducting fiscal policy in a medium-term framework and for matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Economic Affairs

Section 6: Measures for fiscal transparency.

(1) The Central Government shall take suitable measures to ensure greater transparency in its fiscal operations in public interest and minimise as far as practicable, secrecy in the preparation of the annual financial statement and demands for grants.
(2) In particular, and without prejudice to the generality of the foregoing provision, the Central Government shall, at the time of presentation of annual financial statement and demands for grants, make such disclosures and in such form as may be prescribed.

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