Under what circumstances can the president proclaim a financial emergency? Class 8th
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State emergency can be imposed in a state if it fails to run constitutionally. (Article 356) He can proclaim financial emergency if there is a likelihood of the financial instability in the country.
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President Rule, under Article 356
If the President is satisfied, based on the report of the Governor of the concerned state or from other sources, that the governance in a state cannot be carried out according to the provisions in the Constitution, he/she may declare an emergency in the state.
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