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of <h1>Contingency Funds Empower Executives to Respond Swiftly to Urgent Financial Needs Through Flexible Fiscal Mechanisms</h1> Article 267 establishes Contingency Funds at national and state levels to address unforeseen expenditures. Parliament and state legislatures can create these funds, which are placed at the disposal of the President and Governor respectively. These funds allow for immediate financial advances pending legislative authorization, serving as an imprest mechanism to handle unexpected fiscal requirements efficiently.
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