in case of certain extraordinary situations, the president can sanction money to the Government out of-
a) Emergency fund
b) Contingency fund
c) Army welfare fund
d) Consolidated fund
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Emergency Fund
An emergency fund is a financial safety net for future financial surprises and/or unexpected expenses. Financial planners recommend that emergency fund should typically have three to six months' worth of expenses in the form of highly liquid assets. The emergency fund goal shouldn't be high and unattainable
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Contingency fund
In case of certain extraordinary situations, the president can sanction money to the government out of contingencies fund or contingency fund.
- It is a fund for emergencies or unexpected outflows, mainly economic crises.
- The contingencies fund or contingency fund was constituted or designated by the government under Article 267 of the Constitution of India.
- This fund is at the disposal of the President of India.
- The fund rate should not be that high that it becomes unattainable.
- The Contingency Fund of India shall be held on behalf of the President by a Secretary to the Government of India in the Ministry of Finance.
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