Who can proclaim a Financial Emergency?
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Who can proclaim a Financial Emergency?
Answer: President can proclaim a financial emergency
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Financial emergency under Article 360
If the President is satisfied that there is an economic situation in which the financial stability or credit of India is threatened, he or she can declare financial emergency. Such an emergency must be approved by the Parliament within two months. It has never been declared.
If the President is satisfied that there is an economic situation in which the financial stability or credit of India is threatened, he or she can declare financial emergency. Such an emergency must be approved by the Parliament within two months. It has never been declared.
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