PART II
AMENDMENT TO THE CONTINGENCY FUND OF INDIA ACT, 1950
Amendment of Act 49 of 1950.
118. In section 2 of the Contingency Fund of India Act, 1950, after sub-section (2), the following sub-section shall be inserted, namely:––
“(3) On and from the date on which the Finance Bill, 2021 receives the assent of the President, the sum which shall be paid from and out of the Consolidated Fund of India into the Contingency Fund of India under sub-section (2) shall stand enhanced to thirty thousand crores of rupees.”.
Notes on Clauses:
Clause 118 of the Bill seeks to insert a new sub-section (3) in section 2 of the Contingency Fund of India Act, 1950 relating to enhancement of the Contingency Fund of India so as to enhance the corpus of the Fund from five hundred crores of rupees, as at present, to thirty thousand crores of rupees by transfer of an additional amount of twenty nine thousand five hundred crores of rupees from the Consolidated Fund of India to the Contingency Fund of India.
