The Bombay Statutory Fund Act, 1959

(See section 2.)

1. Water Supply Fund. 2. Distress Relief Fund. 3. Amenities Fund. 4. Educational Building Fund. 5. Female Employees Building Fund. 6. Building-Land Development Fund (Housing Fund). 7. Underdeveloped Areas Development Fund. 8. Fisheries Development Fund. 9. Co-operative Aid Fund. 10. Medical Research Endowment Fund. 11. Scientific and Industrial Research Endowment Fund. 12. Agricultural Research Endowment Fund.

(See section 3.)

Serial No. | Name of the Fund. | Amount

1. (Rs) | Remarks. 1 | Water Supply Fund .. | 3,00,00,000 | The fund will be utilised for financing water supply schemes in villages and small Municipal Towns having a population of not more than 30,000. Preference will, however, be given to rural areas over urban areas. Long term loans will be given from the fund at 3 per cent. interest and will be repayable over a period of 25 years. The fund will be utilised for giving loan and not grant-in-aid. 2 | Fund for relief of distress caused by natural calamities apart from famine. | 50,00,000 | The fund will be utilised for giving both loans and grants. Relief necessitated on account of famine will not be given out of this fund as there is already a separate fund (Famine Relief Fund) for the purpose. 3 | Fund for providing amenities such as playgrounds, parks, gardens, theatres, etc. | 50,00,000 | Long term loans will be given out of this fund to Municipalities, District Local Boards and Gram Panchayats. The loans will be at a low rate of interest, viz., 3 per cent. and will be repayable over a period of 25 years. 4 | Fund for construction of hostels for students, quarters for teaching staff, school or college buildings, etc. | 2,00,00,000 | Loans will be given from this fund to educational institutions. The loans will bear interest at 3 per cent. and will be repayable over a period of 25 years. 5 | Fund for construction of residential quarters for nurses, midwives, school mistresses and women social workers in rural and semi-urban areas. | 1,00,00,000 | Loans bearing 3 per cent. interest and repayable over a period of 25 years will be given out of this fund to local bodies including Village Panchayats. 6 | Housing Fund .. | 2,00,00,000 | Loans will be given out of this fund to Co-operative housing societies, Municipalities or Local Boards for developing land for facilitating and encouraging building activities to be undertaken thereon. The loans will bear interest at 3 per cent. and will be repayable over a period of 25 years. 7 | Fund for amelioration of the economically underdeveloped areas in the State. | 1,50,00,000 | The fund is intended for accelerating the pace of development envisaged in the Five-Year Plan and for taking up additional schemes which can yield early results in the economically underdeveloped areas of the State. Loans bearing interest at 3 per cent. and repayable over a period of 25 years will be given from this fund. 8 | Fisheries Fund .. | 50,00,000 | Loans bearing interest at 3 per cent. and repayable over a period of 25 years will be given from this fund to Fisheries Co-operatives. If any grants are required to be given in addition to loans, the former will be met from departmental provisions and not from this earmarked fund. 9 | Co-operative Aid Fund ... | 1,00,00,000 | The Fund will be utilised for granting long-term loans with interest at 3 per cent. per annum to the Co-operative Processing and Joint Farming Societies which are in need of loan assistance for purchase of land and machinery and construction of buildings. The loan will be repayable in not more than 10 instalments. These loans will be granted after considering carefully that such loans do not compete with Central Financing Agencies and Apex Co-operative Banks or tend to weaken their working in any manner. The fund will be administered by the Finance Department. 10 | Medical Research Endowment Fund. | 1,00,00,000 | The fund will have a credit of Rs. 1 crore and it will be built up by transfer of securities from cash balance investment account. Only the interest receipts accruing from the securities held in this fund will be utilised for financing research schemes, the corpus of the fund remaining intact. The fund will be administered on the lines of the Indian Council of Medical Research. 11 | Scientific and Industrial Research Endowment Fund. | 1,00,00,000 | The fund will have a credit of Rs. 1 crore and it will be built up by transfer of securities from cash balance investment account. Only the interest receipts accruing from the securities held in this fund will be utilised for financing research schemes, the corpus of the fund remaining intact. The fund will be administered on the lines of the Indian Council of Scientific and Industrial Research. 12 | Agricultural Research Endowment Fund. | 1,00,00,000 | The fund will have a credit of Rs. 1 crore and it will be built up by transfer of securities from cash balance investment account. Only the interest receipts accruing from the securities held in this fund will be utilised for financing research schemes, the corpus of the fund remaining intact. The fund will be administered on the lines of the Indian Council of Agricultural Research.