JAMMU: Both the houses of Jammu and Kashmir legislature today passed a bill to amend the Jammu and Kashmir State Fiscal Responsibility and Budget Management (FRBM) Act- 2006.
The bill envisages maintaining the fiscal deficit to an annual limit of three per cent of GSDP for 2015-16 to 2019-20 with a flexibility of 0.25 per cent over and above the limit for the same period.
It was moved by the State Finance Minister Haseeb A Drabu in both the houses and passed by voice vote. (AGENCIES)
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