Amendment of section 2.

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..... the following clause shall be inserted, namely:-- '(aa) "effective revenue deficit" means the difference between the revenue deficit and grants for creation of capital assets;'; (ii) after clause (b), the following clause shall be inserted, namely:-- '(bb) "grants for creation of capital assets" means the grants in aid given by the Central Government to the State Governments, constitutional .....

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..... nt of fiscal policy in addition to the statements of the fiscal policy specified therein. It further seeks to insert new sub-sections (1A) and (1B) in the aforesaid section so as to provide that the statements referred to in clauses (a) to (c) of sub-section (1) shall be followed up with the Medium-term Expenditure Framework Statement with detailed analysis of underlying assumptions. The proposed .....

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..... nts of service, new schemes and programmes; the explicit contingent liabilities, which are in the form of stipulated annuity payments over a multi-year time-frame; and the detailed breakup of grants for creation of capital assets. It also seeks to amend sub-section (7) of the aforesaid section so as to include the "Medium-term Expenditure Framework Statement" in the said sub-section for the purpos .....

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