Question : Which article can be used by The President of India to declare financial emergency?
Option 1: Article 32
Option 2: Article 349
Option 3: Article 360
Option 4: Article 365
Correct Answer: Article 360
Solution : The correct answer is Article 360.
Article 360 in Part XVIII of the Indian constitution deals with the financial emergency. It is proclaimed by the President of India if he is satisfied that the situation has arisen in which the financial situation or the credit of India is under threat. It does not require parliamentary approval. As of now financial emergency has never been proclaimed in India. Article 352 deals with national emergency and Article 356 deals with President's rule also called as state emergency.
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