UPSC Exam > UPSC Questions > Consider the following statements withreferen...
Start Learning for Free
Consider the following statements with reference to the Contingency Fund of India:
1. As per the Constitution of India, the President of India is authorized to establish a Contingency Fund of India.
2. The fund is in the nature of an imprest (a fixed fund for a specific purpose) account.
Which of the statements given above is/are correct?
1. As per the Constitution of India, the President of India is authorized to establish a Contingency Fund of India.
2. The fund is in the nature of an imprest (a fixed fund for a specific purpose) account.
Which of the statements given above is/are correct?
- 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?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Consider the following statements withreference to the Contingency Fun...
Contingency Fund of India
The Contingency Fund of India is a fund established by the President of India under Article 267 of the Constitution of India. It is a type of imprest account that is maintained to meet unforeseen expenditures or emergencies.
Statement Analysis
Let's analyze the given statements to determine their correctness:
Statement 1: As per the Constitution of India, the President of India is authorized to establish a Contingency Fund of India.
This statement is incorrect. The President of India is not authorized to establish the Contingency Fund of India. The fund is established by the Parliament of India under Article 267 of the Constitution.
Statement 2: The fund is in the nature of an imprest (a fixed fund for a specific purpose) account.
This statement is correct. The Contingency Fund of India is indeed a type of imprest account. An imprest account is a fixed fund that is set aside for a specific purpose and is replenished periodically.
Conclusion
Based on the analysis, we can conclude that only statement 2 is correct, while statement 1 is incorrect. Therefore, the correct answer is option 'B' - 2 only.
The Contingency Fund of India is a fund established by the President of India under Article 267 of the Constitution of India. It is a type of imprest account that is maintained to meet unforeseen expenditures or emergencies.
Statement Analysis
Let's analyze the given statements to determine their correctness:
Statement 1: As per the Constitution of India, the President of India is authorized to establish a Contingency Fund of India.
This statement is incorrect. The President of India is not authorized to establish the Contingency Fund of India. The fund is established by the Parliament of India under Article 267 of the Constitution.
Statement 2: The fund is in the nature of an imprest (a fixed fund for a specific purpose) account.
This statement is correct. The Contingency Fund of India is indeed a type of imprest account. An imprest account is a fixed fund that is set aside for a specific purpose and is replenished periodically.
Conclusion
Based on the analysis, we can conclude that only statement 2 is correct, while statement 1 is incorrect. Therefore, the correct answer is option 'B' - 2 only.
Free Test
FREE
| Start Free Test |
Community Answer
Consider the following statements withreference to the Contingency Fun...
- Article 267 (1) of the Indian constitution authorized the Parliament and state legislature to establish a ‘Contingency Fund of India’ and ‘Contingency Fund of the State’ into which amounts determined by law are paid from time to time. Hence statement 1 is not correct.
- The contingency Fund of India is in the nature of an imprest (a fixed fund for a specific purpose) account and is kept at the disposal of the President of India (by the Secretary to the Government of India, Ministry of Finance, Department of Economic Affairs) to enable the government to meet unforeseen expenses pending authorization by the Parliament. Hence, statement 2 is correct.
- The money is used to provide immediate relief to victims of natural calamities and also to implement any new policy decision taken by the Government pending its approval by the Parliament. In all such cases after the Parliament meets, a Bill is presented indicating the total expenditure to be incurred on the scheme/ project during the current financial year. After the Parliament votes on the Bill, the money already spent out of the Contingency Fund is recouped/ withdrawn from the Consolidated Fund of India to ensure that the corpus of the Contingency Fund remains intact.
- The corpus of the fund has been increased to Rs. 30,000 crores (as proposed in budget 2021-22, earlier it was Rs. 500 crore) and can be enhanced from time to time by the Parliament.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
Explore Courses for UPSC exam
|
|
Top Courses for UPSCView all
Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
Question Description
Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
Solutions for Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements withreference to the Contingency Fund of India:1. As per the Constitution of India, thePresident of India is authorized toestablish a Contingency Fund of India.2. The fund is in the nature of an imprest (afixed fund for a specific purpose)account.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup