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Budget-3 CONTINGENCY FUND OF INDIA This Acc is used for uncertainty like natural calamities, each state has a right to use this Acc without any permission from the president if any contingency occurs in their state later they have to present to the parliament how and where they spend the money later the money spent is again transferred from the consolidated fund of India to contingency fund so that a minimum fixed amount is always present. Ex: we had 100cr in the contingency fund and 1000cr in the consolidated fund sadly state A suffered from floods they used 20cr from contingency fund, now the current balance of the contingency fund would be 80cr so 20 cr is transferred from the consolidated fund to the contingency fund. PUBLIC ACCOUNT a public account is used in relation to all the fund flows where the government is acting as a banker. Ex:Provident Funds and Small Savings. This money does not belong to government but is to be returned to the depositor. (check out the next post)
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๐ธ25 Basic terms you should know before watching Budget 2025 on Feb 1 Finance Minister Nirmala Sitharaman is preparing to present the Union Budget 2025, marking the second full budget of Prime Minister Narendra Modiโs government in its third term, a
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