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Consider the following statements in respect of financial emergency under Article 360 of the Constitution of India:


1. A proclamation of financial emergency issued shall cease to operate at the expiration of two months unless before the expiration of that period. The resolutions have been approved by both Houses of Parliament.


2. If any proclamation of financial emergency is in operation, it is competent for the President of India to issue directions for the reduction of salaries and allowances of all or any class of persons serving in connection with the affairs of the Union but excluding the Judges of the Supreme Court and the High Courts.


Which of the statements given above is/are correct?

  • a)
    Both 1 and 2 

  • b)
    2 only

  • c)
    1 only

  • d)
    Neither 1 nor 2

Correct answer is option 'A'. Can you explain this answer?
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Consider the following statements in respect of financial emergency un...
A proclamation of financial emergency issued shall cease to operate at the expiration of two months unless before the expiration of that period. The resolutions have been approved it by both Houses of Parliament.
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Consider the following statements in respect of financial emergency un...
Financial Emergency under Article 360 of the Constitution of India:

Proclamation of Financial Emergency:
- It can be issued when the financial stability or credit of India is threatened.
- The President of India can issue this proclamation on the written advice of the Union Cabinet.
- It has to be approved by both Houses of Parliament within two months.
- It can be extended for a maximum period of six months at a time, with no maximum limit on the number of extensions.

Statement 1:
- The statement is correct.
- The proclamation of financial emergency issued shall cease to operate at the expiration of two months unless before the expiration of that period, the resolutions have been approved by both Houses of Parliament.

Statement 2:
- The statement is correct.
- If any proclamation of financial emergency is in operation, the President of India can issue directions for the reduction of salaries and allowances of all or any class of persons serving in connection with the affairs of the Union, but excluding the Judges of the Supreme Court and the High Courts.

Therefore, both statements 1 and 2 are correct.
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Community Answer
Consider the following statements in respect of financial emergency un...
There's a error in question it should be "including judges of high court and supreme court"
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Consider the following statements in respect of financial emergency under Article 360 of the Constitution of India:1. A proclamation of financial emergency issued shall cease to operate at the expiration of two months unless before the expiration of that period. The resolutions have been approved by both Houses of Parliament.2. If any proclamation of financial emergency is in operation, it is competent for the President of India to issue directions for the reduction of salaries and allowances of all or any class of persons serving in connection with the affairs of the Union but excluding the Judges of the Supreme Court and the High Courts.Which of the statements given above is/are correct? a)Both 1 and 2b)2 onlyc)1 onlyd)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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