Para 18.3.11 — CAM

18.3.11 Advance from Contingency Fund of India 18.3.11.1 Article 267 of Indian Constitution stipulates “Parliament may by law establish a Contingency Fund in the nature of an imprest to be entitled the Contingency Fund of India into which shall be paid from time to time such sums as may be determined by such law, and the said Fund shall be placed at the disposal of the President to enable advances to be made by him out of such Fund for the purposes of meeting unforeseen expenditure pending authorization of such expenditure by Parliament by law under article 115 or article 116”. Government of India through Finance Act, 2021 increased the corpus of Contingency Fund of India from ₹ 500 crore to ₹ 30,000 crore.