Rule, 2015

Text

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EXTRAORDINARY

PUBLISHED BY AUTHORITY

No. 677] NEW DELHI, MONDAY, NOVEMBER 2, 2015/KARTIKA 11, 1937

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 31st October, 2015

G.S.R. 829(E).—In exercise of the powers conferred by section 8 of the Fiscal Responsibility and Budget Management Act, 2003 (39 of 2003) (hereinafter referred to as the “Act”), the Central Government hereby makes the following rules further to amend the Fiscal Responsibility and Budget Management Rules, 2004, namely:—

1. (1) These rules may be called the Fiscal Responsibility and Budget Management (Second Amendment) Rules, 2015.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Fiscal Responsibility and Budget Management Rules, 2004 (hereinafter referred to as the “Rules”), after rule 7, the following rule shall be inserted, namely:-

8. Review of compliance by the Comptroller and Auditor General of India--(1) The Comptroller and Auditor General of India shall carry out an annual review of the compliance of the provisions of the Act and the rules made thereunder by the Central Government beginning with the financial year 2014-15.

(2) The review under sub-rule (1) shall include the following, namely:—

(i) Analysis of achievement and compliance of targets and priorities set out in the Act and the rules made thereunder, Medium Term Fiscal Policy Statement, Fiscal Policy Strategy Statement, Macro-economic Framework Statement and Medium-term Expenditure Framework Statement;

(ii) analysis of trends in receipts, expenditure and macro-economic parameters in relation to the Act and the rules made thereunder;

(iii) comments related to classification of revenue, expenditure, assets or liabilities having a bearing on the achievement of targets set out in the Act and the rules made thereunder;

(iv) analysis of disclosures made by the Central Government to ensure greater transparency in its fiscal operations.

(3) For the purpose of conduct of the review under sub-rule (1), the Comptroller and Auditor General of India shall have the authority to-

(a) call for such records or information as he may require, for the preparation of the report; and

(b) require that any accounts, books, papers and other documents which deal with or form the basis of, or are otherwise relevant to the review, shall be sent at such place as he may appoint for the inspection.

(4) The officer in charge of any office or department, the accounts of which are to be inspected and reviewed by the Comptroller and Auditor General, shall afford all facilities for such inspection and comply with the requests for such records or information as expeditiously as possible and in a complete form.

(5) The report of the Comptroller and Auditor General of India relating to review under sub-rule (1) shall be submitted to the President, who shall cause them to be laid on the table of both Houses of Parliament. PRASHANT GOYAL, Jt. Secy.

Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub- section (i), dated the 2 nd nd July, 2004 and was last amended Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

Provisions this rule answers to

Read out of the instrument itself: an enabling provision is one it says it was made under, which is the power it rests on. The rest it names without resting on.

Other instruments under the same Act

All of the The Fiscal Responsibility and Budget Management Act, 2003