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 13: Power to remove difficulties.
    (1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act as may appear to be necessary for removing the difficulty:
     Provided that no order shall be made under this section after the expiry of two years from the commencement of this Act.
     (2) Every order made under this section shall be laid, as soon as may be after it is made, before each House of Parliament.
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