Vidhi Codex

The Karnataka Contingency Fund Act, 1957

The Karnataka Contingency Fund Act, 1957

Finance19574 sections

This Act establishes a Contingency Fund for the State of Karnataka to handle unexpected expenses. The government places a fixed sum of eighty crore rupees into this fund, which is managed by the Finance Secretary. Money can be withdrawn from this fund only for urgent, unforeseen costs that need to be paid immediately while waiting for the state legislature to formally approve the spending through the budget. This mechanism ensures the government can pay for necessary items without delay, even if the regular budget process is not yet complete, maintaining financial stability during emergencies.

Start reading →Read full ActSections
  1. 1. Short title
  2. 2. Establishment of a Contingency Fund
  3. 3. Custody of the Contingency Fund and withdrawals therefrom
  4. 4. Power to make rules

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