Which of the following statements below are correct regarding the contingency fund of India?
1. The contingency fund was made to tackle unnatural conditions like disasters and other unforeseen emergency expenses.
2. The fund is held by the Department of Economic Affairs on behalf of the President of India and it can be operated by executive action.
3. The fund can be increased through a Finance Bill when Parliament is in session or through an ordinance if the house is not in session.
All the statements given above are correct in regards to contingency fund of India. The contingency fund of India is used during the time of crisis in the nation — for instance, a natural calamity — and money is required to deal with it.
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