Which of the following articles of the Indian Constitution is related to Financial Emergency?
Answer
Correct Answer : c ) Article 360
Explanation :The President of India declares Financial Emergency under Article 360 of the Indian Constitution if he/she is satisfied that the situation has arisen in the country whereby the financial stability or credit of India or in any part is under threat.
During a Financial emergency, the President can also direct a reduction in government officials' salaries and allowances, including Supreme Court and High Court justices.
President may revoke the Financial emergency by a subsequent proclamation.
A proclamation declaring a financial emergency has to be approved by both houses of Parliament within two months. After the approval, the emergency continues for an indefinite period until revoked.
Read Study Material on Indian Polity.
Hence, (c) is the correct answer.
Share QOTD
Popular Blog
Paris Olympics 2024: Brief History of Olympics, Winners at Paris Olympics, Related Facts
Read More
Highlights of Union Budget 2024-25
Read More
Highlights of Interim Budget 2024
Read More
150+ Paryayvachi Shabd in Hindi - पर्यायवाची शब्द
Read MoreLatest Current Affairs
Daily Current Affairs and GK | 26 November 2024
Read More
Daily Current Affairs and GK | 24 and 25 November 2024
Read More
Daily Current Affairs and GK | 23 November 2024
Read More
Daily Current Affairs and GK | 22 November 2024
Read More
Daily Current Affairs and GK | 21 November 2024
Read MoreLatest Banking Awareness
Banking Awareness of 21, 22 and 23 November 2024
Read More
Banking Awareness of 19 and 20 November 2024
Read More
Banking Awareness of 16, 17 and 18 November 2024
Read More
Banking Awareness of 13, 14 and 15 November 2024
Read More
Banking Awareness of 10, 11 and 12 November 2024
Read More
Comments