Which one of the following financial powers of the State Council of Ministers has been wrongly liste...........

Indian Polity (Easy) Union - Executive, Legisture

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Which one of the following financial powers of the State Council of Ministers has been wrongly listed?

It formulates the budget proposals and presents the same to the State Legislature for approval

All proposals for taxation emanate from the Council of Ministers

It regulates the Contingency Fund of the State and can advance money out of it to meet the unforeseen contingencies

None of the above

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Explanation:

The contingency fund in India is established by the Constitution of India. This fund comes under Article 267 of the Indian Constitution. This fund is reserved for unexpected emergencies by the Constitution. Since the Governor of the state is the head of the state alike the president as the head of the nation, therefore, he is only responsible for operating the contingencies fund. Hence option 3rd is incorrect.