The President of India can declare a Financial Emergency under Article:
-
A.
352
-
B.
356
-
C.
360
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D.
365
Correct Answer:
C. 360
Explanation:
The President of India is authorized to declare a Financial Emergency under Article 360 of the Constitution. This provision can be invoked if the President is convinced that the financial security or credit of India, or any portion of its territory, is under threat. Once proclaimed, it must be approved by both Houses of Parliament within two months by a simple majority. Unlike other emergency types, a Financial Emergency does not have a maximum duration and continues until the President revokes it. While in effect, the Union government can issue financial directives to states, including instructions to reduce the salaries of public officials and reserve money bills for the President's consideration. To date, Article 360 has never been invoked in India.
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