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Telangana contingency fund Bill passed
Telangana Assembly on Thursday passed a Bill for establishment of a contingency fund of Rs 50 crore for the State. This Bill introduced by Finance Minister Eatala Rajender was passed with unanimous support of all political parties.
Hyderabad: Telangana Assembly on Thursday passed a Bill for establishment of a contingency fund of Rs 50 crore for the State. This Bill introduced by Finance Minister Eatala Rajender was passed with unanimous support of all political parties.
After formation of the Telangana State on June 2 this year, the Andhra Pradesh Contingency Fund established under the Andhra Pradesh Contingency Fund Act, 1957 ceased to exist. Hence, Telangana established its own contingency fund.
This fund will be placed at the disposal of Governor to enable him to utilise for meeting unforeseen and emergency expenditure. It is a notional fund where money is not actually kept for expenditure. It is an arrangement to meet emergent expenditure for which is there is no approval of the legislature.
