RAS question
The Contingency Fund of India is at the disposal of:
Correct answer: (C) President of India.
Under Article 267, the Contingency Fund of India is placed at the disposal of the President of India.
Explanation
Article 267 says Parliament may by law establish a Contingency Fund in the nature of an imprest, called the Contingency Fund of India. The fund receives sums determined by law and is placed at the disposal of the President so that advances can be made from it for unforeseen expenditure. The key qualifier is that this works pending authorisation by Parliament under Article 115 or Article 116: the President's disposal of the fund enables urgent spending before Parliament formally authorises it. The current corpus is Rs 30,000 crore. That is why, among the options, President of India is the only constitutional authority named for this fund.
Why the other options are wrong
- (A) The CAG audits public finances, but Article 267 places the Contingency Fund of India at the disposal of the President, not the CAG.
- (B) The Prime Minister is not the authority named in Article 267 for disposal of the Contingency Fund of India; the provision names the President.
- (D) The Finance Minister does not control the Contingency Fund under Article 267; the fund is at the President's disposal for advances pending Parliament's authorisation.
Concept
This tests constitutional provisions on Union funds and urgent public expenditure, especially Article 267. It recurs in RAS because questions often distinguish who controls, authorises, audits, or withdraws money from different public funds.