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.
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