Question

Which department manages the ‘Contingency Fund of India’ on behalf of the President?

• A. Department of Economic Affairs
• B. Department of Expenditure
• C. Department of Financial Services
• D. Department of Revenue

Answer 1

Answer:

A. Department of Economic Affairs

The ‘Contingency Fund of India’ is held by the Finance Ministry’s Department of economic affairs on behalf of the President of India. It can be operated by executive action and used during disasters and related unforeseen expenditures. Recently, the Government has tweaked spending norms for Contingency Fund, allowing 40 per cent of the total corpus to be placed at disposal of the expenditure secretary.