48Establishment of funds by State Government.

(1) The State Government shall, immediately after notifications issued for constituting the State Authority and the District Authorities, establish for the purposes of this Act the following funds, namely:---
(a) the fund to be called the State Disaster Response Fund;
(b) the fund to be called the District Disaster Response Fund;
(c) the fund to be called the State Disaster Mitigation Fund;
(d) the fund to be called the District Disaster Mitigation Fund.
¹[(2) The State Government shall ensure that the funds established---
(i) under clauses (a) and (c) of sub-section (1) are available to the State Executive Committee and the State Authority respectively and are applied as per the guidelines issued by the Central Government in consultation with the National Authority;
(ii) under clauses(b) and (d) of sub-section (1) are available to the District Authority.]