The correct answer is President of India. Explanation & Key Takeaways: • The Contingency Fund of India is placed at the disposal of the President of India. • This fund is used to meet unforeseen expenditures that cannot wait for the approval of the Parliament. • The fund is established under Article 267 of the Constitution of India. • The President can authorize expenditure from this fund to deal with urgent situations. • Later, the amount withdrawn from the fund is presented to the Parliament for post-facto approval. Related Concepts: • The Contingency Fund is in the nature of an imprest, meaning it is a fixed amount that is replenished as and when the expenditure is incurred. • The fund is maintained by the Ministry of Finance on behalf of the President. • The current corpus of the Contingency Fund of India is Rs. 500 crores. • State governments also maintain their own Contingency Funds, which are at the disposal of the respective Governors.