Shillong, Jan 19: The State Cabinet on Friday approved the Contingency Fund of Meghalaya (Amendment) Ordinance, 2024 for increasing the contingency fund to Rs 1000 crore.

Addressing media persons after the meeting, Chief Minister Conrad K Sangma said, “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 on the matter, Sangma said, “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 utilize funds or the money even if we have the money.”

“So this is basically a provision to increase it from Rs 500 crore to Rs 1000 crore because we are receiving additional funds from Government of India (GOI) and our overall revenue and other aspects of funds from the Centre has gone up. Hence, we are in a position where we will be getting additional funds for some more development work but the provision in the budgetary provisions are not enough to use that fund. Hence, the provisions are being enhanced so that we are in a position to utilise the funds that are going to come from the centre,” he added.

Cabinet today approved the Contingency Fund of Meghalaya (Amendment) Ordinance 2024 which is a temporary measure to increase the Contingency Fund of Meghalaya from ₹500 Crore to ₹1000 Crore. pic.twitter.com/6L40boCMcp

— Conrad K Sangma (@SangmaConrad) January 19, 2024

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