New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Contingency Fund is placed at the disposal of

    ____________
    A President Correct Answer Incorrect Answer
    B Prime Minister Correct Answer Incorrect Answer
    C Home Secretary Correct Answer Incorrect Answer
    D CAG Correct Answer Incorrect Answer
    E Finance Minister Correct Answer Incorrect Answer

    Solution

    Occasions may arise when the government may have to meet urgent unforeseen expenditure pending authorisation from the Parliament. The Contingency Fund is an placed at the disposal of the President to incur such expenditure. Parliamentary approval for such expenditure and for withdrawal of an equivalent amount from the Consolidated Fund is subsequently obtained and the amount spent from the Contingency Fund is subsequently recouped to the Fund.

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