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of <h1>Finance Bill 2021 Amendment Raises Contingency Fund of India From 500 Crores to 30,000 Crores Under Section 2(3)</h1> Clause 118 of the Finance Bill, 2021 proposes an amendment to the Contingency Fund of India Act, 1950. It introduces a new sub-section (3) in section 2, which increases the corpus of the Contingency Fund from the current five hundred crores to thirty thousand crores of rupees. This enhancement will be achieved by transferring an additional twenty-nine thousand five hundred crores from the Consolidated Fund of India to the Contingency Fund, effective upon the President's assent to the Finance Bill, 2021.
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