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Under which Article of the Indian Constitution can the President of India declare a financial emergency?
Article 352
Article 356
Article 360
Article 370
Article 360
Article 360 of the Indian Constitution empowers the President to proclaim a financial emergency if the financial stability or credit of India or any part of its territory is threatened ┬╖ During such an emergency, the executive authority of the Union extends to giving directions to states to observe cannons of financial propriety.
Article 360 of the Indian Constitution empowers the President to proclaim a financial emergency if the financial stability or credit of India or any part of its territory is threatened ┬╖ During such an emergency, the executive authority of the Union extends to giving directions to states to observe cannons of financial propriety.
Part XVIII of the Indian Constitution (Articles 352-360) deals with Emergency Provisions.
A proclamation of financial emergency must be approved by both Houses of Parliament within two months.
Once approved, it remains in force indefinitely until revoked by the President.
This provision has never been invoked in India to date.
During a financial emergency, the President can order the reduction of salaries and allowances of all or any class of persons serving the Union or the States, including judges of the Supreme Court and High Courts.
Article 352 relates to National Emergency based on war, external aggression, or armed rebellion.
Article 356 relates to President's Rule in states due to the failure of constitutional machinery.
Article 370 formerly provided special autonomous status to the state of Jammu and Kashmir, which was effectively abrogated in 2019.
C is correct тАФ Article 360 grants the President the power to proclaim a financial emergency when the financial stability of India is threatened.
Always remember the trio of emergencies: 352 (National), 356 (State/President's Rule), and 360 (Financial) ┬╖ These are frequently tested for their grounds of invocation and parliamentary approval timelines.