The State cabinet today enhanced the provisions of the contingency fund from Rs 1300 crore to Rs 1800 crore to meet various budgetary shortfall for this financial year 2022-23.
Speaking to media persons after the cabinet meeting, Chief Minister Conrad Sangma said that while the funds are available for the government to spend, the budgetary provisions are not there.
“In the budget, the amount that was budgeted, the government has already spent more than what was budgeted. Then we have to go for supplementary demands and when those provisions are not there then we go into the contingency fund,” Sangma explained.
He also informed that the enhancement of the contingency fund will enable the government to spend the money which has not been provided in the budget itself.
Sangma also said that the State government will be receiving another Rs 100 crore more from the Central government for MGNREGS since the State has already exhausted the provisions within the budget.
“Although the funds are coming in, to allow us to spend that we have to increase the provisions through the contingency fund and hence that provisions are being created,” he said.
Sangm also informed that the State government has given funds of over Rs 400 crore to support the Meghalaya Energy Corporation Limited (MeECL) in its functioning and now the government can give more money to the corporation under the enhanced contingency fund.