Shillong, Jan 30: The state government has increased its contingency fund to ₹1,005 crore to meet additional demands.
The cabinet has approved an ordinance on Contingency Funds of Meghalaya to increase the state corpus to ₹1,005 crore to meet additional demands, said chief minister Conrad Sangma after the cabinet meeting on Thursday.
The government uses the corpus to meet supplementary demands as and when raised beyond the budgeted expenditures within a financial year.
Explaining that the increase of contingency fund is within the system, the chief minister said the money is already here, but since the budget was already passed by the assembly, there is the need for moving to contingency fund.
“The provisions have to be created and hence the Contingency limit has to be increased for us to be able to go ahead with those expenditures,” he said.
