Guwahati, Mar 22 (PTI) The Assam government on Tuesday introduced a bill in the state assembly to increase the corpus of Contingency Fund to Rs 2,000 crore from the existing Rs 200 crore to meet expenses of unforeseen events.

Finance Minister Ajanta Neog introduced "The Assam Contingency Fund (Augmentation of Corpus) Bill, 2022" on the floor of the House.

Also Read | Birbhum Violence: Home Ministry Seeks Report From West Bengal Government on Killing of 8 People in Birbhum.

In the statement of objects and reasons, she said that a "sizeable" amount of money is required almost every year to meet expenditures related to natural calamities and other unforeseen events.

As the expenditure is unforeseen in nature and no budget provision can be made, hence the need for permanent augmentation of Contingency Fund was felt, she said.

Also Read | Delhi Shocker: Mother Killed Infant Daughter, Hid Body Inside Microwave Oven in Chirag Dilli.

“...it is proposed to raise the corpus of Contingency Fund to Rs 2,000 crore from Rs 200 crore,” Neog added.

The fund will be administered by the finance department, she said.

It was created as per provision of the Assam Contingency Fund Act, 1950, to meet unforeseen expenditures that are not provided in the budget and which cannot wait for a supplementary provision in the next session of the assembly.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)