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Consider the following statements regarding the Contingency Fund of India:
1. According to the Article 267(I) of the Indian constitution, Parliament may by law establish a Contingency Fund of India.
2. Contingency Fund of India shall be placed at the disposal of the Parliament.
Which of the above statements is/are incorrect?
1. According to the Article 267(I) of the Indian constitution, Parliament may by law establish a Contingency Fund of India.
2. Contingency Fund of India shall be placed at the disposal of the Parliament.
Which of the above statements is/are incorrect?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements regarding the Contingency Fund of In...
As the name suggests, the Contingency Fund of India is the emergency fund for the nation. Constituted under Article 267(1) of the Indian Constitution, the Contingency fund of India is used at a time when there is a crisis in the nation — a natural calamity, for instance — and money is required to deal with it.
The contingency fund of the Union government is at the disposal of the President of India, who releases the funds on request of the Union Cabinet, which later gets an approval from Parliament. A Parliament approval is mandatory.
After the emergency has been dealt with, the fund is reimbursed to its full capacity. This required money comes from the Consolidated Fund of India.
Community Answer
Consider the following statements regarding the Contingency Fund of In...
Explanation:
To understand the correctness of the given statements, let's analyze each statement one by one:
Statement 1: According to Article 267(I) of the Indian constitution, Parliament may by law establish a Contingency Fund of India.
The Contingency Fund of India is mentioned in Article 267 of the Indian Constitution. However, there is no provision specifically mentioned as Article 267(I). Therefore, statement 1 is incorrect.
Statement 2: Contingency Fund of India shall be placed at the disposal of the Parliament.
The Contingency Fund of India is not placed at the disposal of the Parliament. It is placed at the disposal of the President of India. The President has the power to make advances out of this fund to meet unforeseen expenses. Therefore, statement 2 is also incorrect.
Since both statements 1 and 2 are incorrect, the correct answer is option 'B' - 2 only.
Conclusion:
The Contingency Fund of India is established by law, but there is no specific provision mentioned as Article 267(I) for its establishment. The fund is placed at the disposal of the President of India, not the Parliament. Therefore, both statements 1 and 2 are incorrect.
To understand the correctness of the given statements, let's analyze each statement one by one:
Statement 1: According to Article 267(I) of the Indian constitution, Parliament may by law establish a Contingency Fund of India.
The Contingency Fund of India is mentioned in Article 267 of the Indian Constitution. However, there is no provision specifically mentioned as Article 267(I). Therefore, statement 1 is incorrect.
Statement 2: Contingency Fund of India shall be placed at the disposal of the Parliament.
The Contingency Fund of India is not placed at the disposal of the Parliament. It is placed at the disposal of the President of India. The President has the power to make advances out of this fund to meet unforeseen expenses. Therefore, statement 2 is also incorrect.
Since both statements 1 and 2 are incorrect, the correct answer is option 'B' - 2 only.
Conclusion:
The Contingency Fund of India is established by law, but there is no specific provision mentioned as Article 267(I) for its establishment. The fund is placed at the disposal of the President of India, not the Parliament. Therefore, both statements 1 and 2 are incorrect.
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Consider the following statements regarding the Contingency Fund of India:1. According to the Article 267(I) of the Indian constitution, Parliament may by law establish a Contingency Fund of India.2. Contingency Fund of India shall be placed at the disposal of the Parliament.Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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