Sri Lanka Consolidated Acts

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]

Fiscal Management (Responsibility) Act (No. 3 of 2003) - Sect 6

Contents of Statement

6. A Statement shall -
(a) specify the Government's medium term fiscal policy, within which the Government's short term fiscal objectives will be formulated ;
(b) explain the broad strategic priorities on which the budget is, or will be based ;
(c) specify the key fiscal measures which the Government considers important in view of the strategy and the overall fiscal policy to be implemented ;
(d) specify in respect of the next financial year and the three succeeding financial years in conformity with the fiscal policy -
(i) the Government's fiscal objectives and targets, in relation to expenditure, revenue,. debt and other fiscal indicators, with special reference being made to the Government's debt, if any, to the Employees Provident Fund and the Employees Trust Fund ;
(ii) the expected outcome of the key measures Specified in paragraph (c) ;
(e) explain how the fiscal objectives and strategic priorities specified in paragraphs (a), (b) and (d) are consistent with the principles of responsible fiscal management;
(f) explain, if such objectives and priorities depart substantially from the principles of responsible fiscal management
(i) the reasons for the departure ;
(ii) the steps that the Government is taking to return to those principles ;
(iii) the period of lime within which the Government indents to return to these principles ; and


[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]