 Ordinance, 2024 will increase the contingency fund from Rs 500 crore to Rs 1000 crore.”){kind=link}
SHILLONG:
The State Cabinet, on Friday, approved the Contingency Fund of Meghalaya (Amendment) Ordinance, 2024, increasing the contingency fund to Rs 1000 crore.
Chief Minister Conrad K Sangma addressed media persons after the meeting, stating, “This is a temporary measure. So, the Contingency Fund of Meghalaya (Amendment) Ordinance, 2024 will increase the contingency fund from Rs 500 crore to Rs 1000 crore.”
Further clarifying, Sangma explained, “Certain provisions that are there in the budgetary provisions, when they get exhausted, until and unless we don’t pass supplementary demand in the Assembly, we are not able to utilise funds or the money even if we have the money. So hence, if supplementary demands cannot be passed in the Assembly, contingency funds provisions are used.”
He added, “So this is basically a provision to increase it from Rs 500 crore to Rs 1000 crore because we are receiving additional funds from the Government of India (GOI), and our overall revenue and other aspects of funds from the Centre have gone up. Hence, we are in a position where we will be getting additional funds for some more development work, but the provisions in the budgetary provisions are not enough to use that fund. So, the provisions are being enhanced so that we are in a position to utilise the funds that are going to come from the Centre.”