The Government of Goa on 4th March 2021 has notified the Goa Fiscal Responsibility and Budget Management (Amendment) Act, 2021 which shall deemed to have come into force from 1st June 2020.
The Amendment is brought under section 5 which deals with fiscal management target in which the Government shall reduce the ratio of revenue deficit to the total revenue receipt by 1.5% in each of the financial year.
“Provided that for the financial year 2020-21, additional fiscal deficit of 2% over and above 3% of the Gross State Domestic Product (upto 5% of GSDP) shall be permissible.
