Shillong, Jan 30: The cabinet on Thursday approved an ordinance for increasing the corpus amount of the contingency fund to Rs 1005 crore.

Addressing media after chairing the cabinet, Chief Minister Conrad K Sangma said, “(We have approved) an ordinance to the Contingency Funds of Meghalaya and the amount of the corpus has been increased Rs 1005 crore to meet additional demands.”

Explaining the reason behind the decision, he said, “The Contingency Funds is a provision within the budgetary system of the government, where once the necessary budget, which has been passed by the Assembly is exhausted for a particular department, it has to be then move through a supplementary demand in order to spend more if required and while the supplementary demands are to be passed by the Assembly in the session, the Contingency Funds allows that provision to be used.”

“Now, this does not mean that we have a Contingency Fund that comes in and we increase the amount in terms of cash flow. The cash and the money is already available for expenditure but because provisions are not there between the budgetary provisions since the budget was passed by the Assembly, we need to move to the Contingency and even now as I said since we have cash available for certain expenditures, 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 and hence this particular provision was incorporated and an ordinance has been brought in to increase the Contingency Fund provision and raised it to Rs 1005 crore,” he added.

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