What is a Contingency Fund in the nature of an imprest?
A Contingency Fund in the nature of an imprest is a special fund established by Parliament or a State Legislature for the purpose of meeting unforeseen expenditure pending authorization of such expenditure by the respective legislative body. The funds are placed at the disposal of the President (in case of India) or Governor (in case of a State) to make advances for these unforeseen expenses until they are officially authorized by Parliament or the State Legislature.