Formic acid is unique amongst simple carboxylic acids because it contains a hydrogen atom instead of an alkyl group (H-COOH, all other carboxylic acid contains an alkyl group attached to C instead of hydrogen on left side) thus formic acid may be regarded both as an aldehyde as well as a carboxylic acid. Like aldehydes it can be easily oxidised to carbonic acid (H2CO3) which decomposes to give CO2 and H2O.
HCOOH+[O]→[H2CO3]→CO2+H2O
Thus like aldehydes, it reduces Fehling's solution to red ppt. of Cu2O Tollen's reagent to a silver mirror.
Proponoic acid, on the other hand, has alkyl group attached to it and hence doesn't behave like aldehydes. They, therefore fail Tollens and Fehlings test.