Clarify the rights of the President under Article 356.
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if the president is satisfied that there is an economic situation in which of the financial stability aur credit of India is threatened, he or she can then proclaim a financial emergency, as per Article 360. It has never been declared so far.
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Under Article 356 of the Constitution of India, in the event that a state government is unable to function according to constitutional provisions, the Central government can take direct control of the state machinery. The state's governor issued a proclamation, after obtaining the consent of the President of India.
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