MUMBAI, JULY 20: An ordinance to increase the Maharashtra Contigency Fund has been promulgated by Governor Dr P C Alexander. The new ordinance will be made effective from July 19, 1999.The present corpus of the fund which is Rs 350 crore has been increased to Rs 1,000 crore. The original corpus of the fund was Rs 150 crore which was increased to Rs 350 crore as a temporary measure by an ordinance issued on May 21, 1999.According to a release issued by the State Government, the funds have been made sanctioning the Contigency Fund advances for compensation to the Muncipal Council for octroi abolition, expenditure on elections, creation of new posts for newly formed talukas and districts, creation of new posts in the various departments from the fund up to July 1999.Since it will be necessary to provide funds for the further period for meeting the expenditure from August 1999 onwards till the next session of the state legislature, and in case event of any natural clamities, an additional fund of Rs 800crore would be necessary till October 1999, the release stated.
