Contingency Fund of India (Amendment) Rules, 2021
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 4th October, 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, Department of Economic Affairs, in the manner provided for in rule 4.”;
(iv) 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.”;
(v) 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).”.