What is the Contingency Fund of India and the Contingency Fund of a State?
Article 267 of the Indian Constitution establishes the Contingency Fund of India and the Contingency Fund of a State, which are in the nature of an imprest. These funds are used for meeting unforeseen expenditure pending authorization by the Parliament or the State Legislature. The President has control over the Contingency Fund of India, while the Governor controls the Contingency Fund of a State.