GK
IMPORTANT ACTS OF THE PARLIAMENT OF INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Contingency Fund of India Act____
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1948
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1950
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1952
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1954
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Explanation:
Detailed explanation-1: -It was added into the Indian Constitution through the Contingency Fund of India Act, 1950 Contingency fund refers to a fund that is set aside for emergencies and economic crises. The fund is held by the Finance Secretary on behalf of the President.
Detailed explanation-2: -Contingency funds are funds created to cope with any unforeseen scenarios or emergencies that a business may run into at any point in time. Businesses hold this fund in the form of liquid assets or cash.
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