Section 42 · Annual Financial Statement

(1) The Governor shall in respect of every financial year cause to be laid before the Legislative Assembly a statement of the estimated receipts and expenditure of Meghalaya for that year, hereinafter referred to as "the annual financial, statement".

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(2) The estimates of expenditure embodied in the annual financial statement shall show separately—

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(a) the sums required to meet expenditure described by this Act as expenditure charged upon the Consolidated Fund of Meghalaya; and

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(b) the sums required to meet other expenditure proposed to be made from the Consolidated Fund of Meghalaya,

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and shall distinguish expenditure on revenue account from other expenditure.

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(3) The following expenditure shall be expenditure charged upon the Consolidated Fund of Meghalaya—

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(a) the salaries and allowances of the Speaker and the Deputy Speaker of the Legislative Assembly;

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(b) debt charges for which the autonomous State is liable including interest sinking fund charges and redemption charges, and other expenditure relating to the raising of loans and the service and redemption of debt;

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(c) any sums required to satisfy any judgment, decree or award of any court or arbitral tribunal; and

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(d) any other expenditure declared by the Constitution or by the Legislature of Meghalaya to be so charged.

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