The Central Government notified Contingency Fund of India (Amendment) Rules, 2021 to amend the Contingency Fund
of India Rules, 1952.
Key Amendments:
- For rule 3, the following rule shall be substituted:
“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.”
- For Rule 5, the following rule shall be substituted:
“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,
Department of Economic Affairs, in the manner provided for in rule 4.”
- For rule 7, the following rule shall be substituted, namely:
“7. A copy of the order sanctioning the advance, which shall specify the amount, the grant or appropriation to which it relates and given brief particulars by sub–heads and units of appropriation of the expenditure for meeting which it is made, shall be forwarded by the Ministry of Finance to the Audit and Accounts Officers concerned.”
- For sub–rule (1) of rule 8, the following sub–rule shall be substituted, namely:
“(1) All expenditure so financed shall be regularised through the Supplementary Estimates presented to Parliament
unless such advance has been resumed to the Contingency Fund in accordance with the provisions of sub –rule (2).”
