What was the `privy purse in the context of the history of Modern India ?

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Q: 52 (CDS-II/2011)
What was the 'privy purse’ in the context of the history of Modern India ?
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question_subject: 

History

question_exam: 

CDS-II

stats: 

0,77,48,12,19,77,17

keywords: 

{'privy purse': [0, 0, 0, 1], 'purse': [0, 0, 0, 1], 'dignitaries': [0, 0, 1, 1], 'erstwhile princes': [0, 0, 0, 1], 'modern india': [0, 0, 0, 1], 'grant': [0, 0, 3, 4], 'government': [5, 0, 0, 1], 'erstwhile prince': [0, 0, 0, 1], 'gift': [0, 0, 0, 1], 'india': [8, 1, 7, 13]}