MANU/EAFF/0037/2021

Ministry : Ministry of Finance

Department/Board : Economic Affairs

Notification No. : GSR721(E)

Date of Notification : 04.10.2021

Date of Publication : 06.10.2021

Contingency Fund of India (Amendment) Rules, 2021

G.S.R.721(E).--In exercise of the powers conferred by section 4 of the Contingency Fund of India Act 1950 (49 of 1950), the Central Government hereby makes the following rules further to amend the Contingency Fund of India Rules, 1952, namely:-

1.     (1) These rules may be called the Contingency Fund of India (Amendment) Rules, 2021.

(2) They shall come into force on the date of their publication in Official Gazette.

2. In the Contingency Fund of India Rules, 1952, -

(i) for rule 3, the following rule shall be substituted, namely: -

"3. An amount equivalent to forty per cent of the Fund corpus shall be placed at the disposal of the Secretary, Ministry of Finance, Department of Expenditure for the purpose of meeting unforeseen expenditure, and beyond this limit, all further Contingency Fund releases shall be made with the approval of Secretary to the Government of India, Department of Economic Affairs, after the approval of Secretary to the Government of India, Department of Expenditure.";

(ii) in rule 4, for the words "Department of Economic Affairs", the words "Department of Expenditure" shall be substituted;

(iii) for rule 5, the following rule shall be substituted, namely: -

"5. Applications for advances required shall be made to the Secretary to the Government of India, Department of Expenditure and applications for advances of new loans shall be made to the Secretary to the Government of India, D........