Question : In India how many times has the President declared a Financial Emergency?
Option 1: Once
Option 2: Never
Option 3: Thrice
Option 4: Twice
Correct Answer: Never
Solution : The correct answer is Never.
A financial emergency has never been declared in India. A financial emergency may be declared by the President by Article 360 if the President believes that all or a portion of India's financial stability or credit is in jeopardy. Within two months, both Houses of Parliament must approve it after it has been approved by the Parliament.
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