Correct option is D
The correct answer is (d) The Governor of the State
Explanation:
● Under Article 267(2) of the Indian Constitution, the State Legislature may establish a 'Contingency Fund of the State'.
● This fund is placed at the disposal of the Governor of the State to enable advances to be made for the purposes of meeting unforeseen expenditure.
● Such expenditure must eventually be authorized by the State Legislature.
Information Booster:
● The Contingency Fund of India (Central level) is at the disposal of the President of India.
● It is operated by the Finance Secretary on behalf of the President/Governor.
● It is an "Imprest" account, meaning it is replenished after use.
Additional Knowledge:
● Consolidated Fund of India (Art 266) – All revenues received by the government and loans raised are kept here.
● Public Account of India (Art 266) – Contains money like provident funds and small savings where the government acts as a banker.