NEW DELHI: In the coming budget session for financial year 2019-20, the Delhi government plans to increase the contingency fund amount from current 10 crore to 100 crore. According to officials privy to the development, this is being done keeping in mind the changing scenarios when different departments need some amount urgently for developmental projects and in that case 10 crore is far to less.
Contingency fund is when a department has the budget marked for the entire year depending on the past, present and future planned projects but in between some work needs urgent fund allocation. In such a scenario, the respective department seeks the approval from the finance department. Officials expressed happiness over the decision to increase contingency fund by 10 times.
They said they expect more financial help in the future. Contingency Fund is created as an imprest account to meet some urgent or unforeseen expenditure of the government.