Vidhi Codex

The Goa Contingency Fund Act, 1988

The Goa Contingency Fund Act, 1988

Finance19885 sections

This Act establishes a Contingency Fund for the State of Goa to handle unexpected financial needs. It authorizes the government to keep a specific amount of money, currently one hundred crores of rupees, in this fund. The Finance Secretary manages the money, allowing the government to make immediate withdrawals for unforeseen expenses. These withdrawals are temporary and require later approval from the Legislative Assembly. Essentially, the law ensures the state government has a ready reserve of cash to pay for urgent, unplanned costs without waiting for a full legislative vote every time an emergency arises.

Start reading →Read full ActSections
  1. 0. Preamble
  2. 1. Short title, extent and commencement.
  3. 2. Establishment of a Contingency Fund.
  4. 3. Custody of the Contingency Fund and withdrawals therefrom.
  5. 4. Power to make rules.

PDF: pending for this language.