Which of the following funds is constituted under Article 267(1) of the Indian Constitution and placed at the disposal of the President to meet unforeseen expenditures?

💡 Solution & Explanation

Article 267(1) of the Constitution authorizes Parliament to establish the Contingency Fund of India, which is held at the disposal of the President to make advances for meeting urgent or unforeseen expenditures pending parliamentary authorization. This fund operates on an imprest system and is subsequently replenished through proper budgetary appropriations. The Consolidated Fund of India, governed by Article 266, requires regular parliamentary approval for all withdrawals.