Section 47. National Disaster Mitigation Fund.

(1) The Central Government may, by notification in the Official Gazette, constitute a Fund to be called the National Disaster Mitigation Fund 1[for meeting disaster mitigation needs] and there shall be credited thereto such amount which the Central Government may, after due appropriation made by Parliament by law in this behalf, provide. 2[(2) The Fund constituted under sub-section (1), shall be applied in accordance with the guidelines laid down by the Central Government in consultation with the National Authority.]