Cabinet approves increase corpus of Meghalaya Contingency Fund

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The state Cabinet on Tuesday approved the proposal to increase the corpus of the Meghalaya Contingency Fund from Rs 305 crore to Rs 505 crore, which is an increase by Rs 200 crore.

 

Addressing media persons, Chief Minister Conrad K Sangma said this is being done due to the fact that there are large numbers of projects which are done under the Contingency Fund of Meghalaya Act, 2017.

 

“Therefore, since the amount has been already utilized because of different expenditures, the amount has to be amended and increased to Rs 505 crore,” he said.

 

The cabinet has also approved the amendment of the Meghalaya FRS & SRS 1984 and the Meghalaya Delegation of Financial Powers Rule, 2006

 

Sangma said the proposal was to facilitate the director of dairy development in discharging his/her duties and exercising the powers and functions as head of department under the Meghalaya FRS & SRS, 1984 and the Meghalaya Delegation of Financial Powers’ Rule, 2006.

 

Meanwhile, the cabinet has also approved the list of VIPs who will take the salute and hoist the national flag on the Independence Day celebration.