State whether the given statement is true/false.

Article 268 of the Indian Constitution provides for a contingency fund for India as well as each state.

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True

False

answer is B.

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Detailed Solution

The given statement is false.
Article 267 of the Indian Constitution provides for a contingency fund for India as well as each state. It has the characteristics of imputes (money maintained for a specific purpose). As a result, Parliament passed the India Contingency Fund Act 1950. The fund is kept on behalf of the President of India by the Finance Secretary (Department of Economic Affairs), and it can be administered by executive action. The India Contingency Fund serves to cover calamities and other unanticipated expenses.

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