Question

Financial Emergency can be continued for

• A. 2 months
• B. 6 months
• C. one year
• D. indefinite

Answer 1

Answer:

D. indefinite

Financial Emergency

• Grounds of declaration: Article 360 empowers the president to proclaim a Financial Emergency if he is satisfied that a situation has arisen due to which the financial stability or credit of India or any part of its territory is threatened.

• Parliamentary approval and duration: A proclamation declaring financial emergency must be approved by both the Houses of Parliament within two months from the date of its issue.

• If the proclamation of Financial Emergency is issued at a time when the Lok Sabha has been dissolved or the dissolution of the Lok Sabha takes place during the period of two months without approving the proclamation, then the proclamation survives until 30 days from the first sitting of the Lok Sabha after its reconstitution, provided the Rajya Sabha has in the meantime approved it.

• Once approved by both the houses of Parliament, the Financial Emergency continues indefinitely till it is revoked