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Q: Which of the following fund can be used by the Government of India in case of emergency or disaster?
  • A. Contingency fund
  • B. Consolidated fund
  • C. Public fund
  • D. Common fund
Correct Answer: Option A - Article 267 of the Indian Constitution describes the Contingency fund. This fund is held by the Finance Secretary on behalf of the President. It remains under the authority of the President. President can give his assent for any unforeseen circumstances. It can then be authorized by Parliament.
A. Article 267 of the Indian Constitution describes the Contingency fund. This fund is held by the Finance Secretary on behalf of the President. It remains under the authority of the President. President can give his assent for any unforeseen circumstances. It can then be authorized by Parliament.

Explanations:

Article 267 of the Indian Constitution describes the Contingency fund. This fund is held by the Finance Secretary on behalf of the President. It remains under the authority of the President. President can give his assent for any unforeseen circumstances. It can then be authorized by Parliament.