Question

state any two of the financial emergency

Answer 1

There are three types of emergency that can be declared under the Constitution of India. National emergency under Article 352, state emergency under Article 356 and financial emergency under Article 360. During national emergency fundamental rights are suspended.

But during state emergency, the administration of a state is taken over by the Centre through the Governor of the state for break down of constitutional machinery in the state. It is popularly called as the President's rule.

Under Article 360, the President can declare financial emergency if there is serious threat to the financial conditions of the Nation. The Government can reduce salary of govt employees including IAS, IPS officers and judges of the Supreme Court and High Courts. Every bill is strictly scrutinised before passing of it due to financial stringency. The bills passed by the state Governments are placed for approval of the President. However the fundamental rights are not suspended during state or financial emergency.

So far national emergency is declared thrice in India. First it was declared in 1962 during the China-India war. It continued upto 1968. Secondly during Indo-Pak war of 1971 it was declared to face foreign aggression. The last occasion when Emergency was declared was in 1975 for internal disturbances, following agitation spearheaded by late Jaiprakash Narain against the Government of late Indira Gandhi. Fundamental Rights were suspended following declaration of emergencies both in 1971 and 1975. Both the emergencies came to an end in 1977. All types of emergencies are to be approved by both the Houses of the Parliament within two months of Presidential declaration.

Financial emergency never occurred in India so far, although possibility of such a situation loomed large in 1990. The situation was managed when the Government of India pledged 40 MTs of gold with Bank of England and Swiss Bank to secure credit limits for imports. However afterwards in 1991 a series of liberalisation measures were undertaken for which the growth of the economy increased and India could overcome structural difficulties and her growth potentialities increased to attain the status of a stable economy with high growth potentialities.

BE SMART ^_^

Answer 2

hllo frnd...*_*


There are three types of emergency which can be proclaimed in India
1.National Emergency, 2.State Emergency or Presidential Rule in state and 
3.Financial Emergency.

¤ The two effect of financial emergency are as follows;

1. The most significant effect is that the federal form of the Constitution changes into unitary.

2.while a proclamation of emergency is in operation.



hope its help U...my frnd*_*