Which of the following Articles of the Indian Constitution is related to Contingency Fund ?

Detailed Solution:

The correct answer is “Article 267”.

The Contingency Fund of India is established under Article 267(1) of the Indian Constitution. It is a special fund created to meet unforeseen and urgent expenditures that cannot wait for the approval of the Parliament.

The fund is administered by the Finance Secretary on behalf of the President of India. The President can make advances from the fund to meet urgent expenses until Parliament authorizes them. The government "cannot withdraw" funds without Parliament's approval.

Note: The Consolidated Fund of India is established under Article 266(1) of the Indian Constitution. The government needs parliamentary approval to withdraw money from this fund.