Which Article of the Indian Constitution empowers the President of India to declare financial emergency?

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AArticle 358

BArticle 359

CArticle 360

DArticle 363

Answer:

Article 360 of the Indian Constitution empowers the President to invoke financial emergency.

Related Questions:

Consider the following statements about the Parliamentary approval of a National Emergency:

The proclamation must be approved by both Houses of Parliament within one month.
If approved, the emergency continues for one year and can be extended indefinitely with approval every year.
The resolution for approval must be passed by a special majority in both Houses.

Which of the statements given above is/are correct?

Consider the following statements about the Financial Emergency under Article 360.

(i) A Financial Emergency can include directions to reduce salaries of state government employees.

(ii) A resolution approving a Financial Emergency requires a special majority in Parliament.

(iii) No Financial Emergency has ever been declared in India.

Regarding the duration and parliamentary approval of President's Rule, which statements are correct?

President's Rule lasts initially for six months after Parliamentary approval.
It can be extended beyond one year only if National Emergency is in operation and the Election Commission certifies difficulties.
Parliamentary approval for continuation of President’s Rule requires a special majority.