Thursday, September 16, 2010

Fiscal Responsibility and Budget Management Bill introduced in Sikkim Assembly

Gangtok, Sep 16 (PTI) Sikkim is on the verge of formalising the Fiscal Responsibility and Budget Management Bill, which Chief Minister Pawan Chamling, who also holds the finance portfolio, tabled in the Assembly today.The two-day Assembly session, which began today, is expected to pass this bill tomorrow.The bill is an obligation put on state governments by the central government, and also an amendment to the Casino Games Taxation Act along with demands for supplementary grants.At present, Sikkim is perhaps the only state in the country which has not yet enacted the Fiscal Responsibility and Budget Management (FRBM) Act.The Bill is obligatory in nature if the state wants to keep receiving central funds.The decision to table the Bill was reportedly taken at the coordination meeting convened by the Chief Minister with heads of departments in late August.

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