Statement of objects and reasons. - As a result of the reorganisation of States, in Contingency Fund Acts in force in the various integrating units of the new State of Madhya Pradesh ceased to be operative with effect from the 1st November, 1956. It, therefore, became necessary to establish a Contingency Fund for the new State of Madhya Pradesh with effect from that day. Accordingly an Ordinance was promulgated by the Governor for the purpose on the 1st November, 1956. The Ordinance makes provision for establishing out of the Consolidated Fund of the State of Madhya Pradesh a Contingency Fund consisting of two crores of rupees for meeting unforeseen expenditure. It is now proposed to replace this Ordinance by an enactment of the State Legislature. This Bill is designed to achieve this object.
Statement of Objects and Reasons were published : "Madhya Pradesh Gazette", Extraordinary, dated the 12th December, 1956.
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