Q. Which of the following statements is/are correct regarding Financial Emergency under Article 360?
Select the correct answer using the code given below.
Q. Which of the following statements is/are correct regarding Financial Emergency under Article 360?
Select the correct answer using the code given below.
The correct option is D All of the above
Explanation:
Part XVIII (Article 352-360) of the Constitution of Indian talks about the Emergency Provisions. Article 360 talks about the Financial Emergency. It is one of the three types of emergency provisions embedded in the Indian Constitution.
Statement 1 is correct: A proclamation declaring a financial emergency must be approved by both the Houses of Parliament (i.e., Lok Sabha and Rajya Sabha) within two months from the date of its issue. A resolution approving the proclamation of financial emergency can be passed by either House of Parliament only by a simple majority (that is, a majority of the members of that house present and voting).
Statement 2 is correct: After approval of both the Houses of Parliament, the Financial Emergency continues indefinitely till it is revoked. There is no maximum period prescribed for its operation. Repeated parliamentary approval is not required for its constitution.
Statement 3 is correct: After the promulgation of financial emergency, Money bills or other financial bills can be reserved for the consideration of the President after they are passed by the Legislature of the State.
Explanation:
Part XVIII (Article 352-360) of the Constitution of Indian talks about the Emergency Provisions. Article 360 talks about the Financial Emergency. It is one of the three types of emergency provisions embedded in the Indian Constitution.
Statement 1 is correct: A proclamation declaring a financial emergency must be approved by both the Houses of Parliament (i.e., Lok Sabha and Rajya Sabha) within two months from the date of its issue. A resolution approving the proclamation of financial emergency can be passed by either House of Parliament only by a simple majority (that is, a majority of the members of that house present and voting).
Statement 2 is correct: After approval of both the Houses of Parliament, the Financial Emergency continues indefinitely till it is revoked. There is no maximum period prescribed for its operation. Repeated parliamentary approval is not required for its constitution.
Statement 3 is correct: After the promulgation of financial emergency, Money bills or other financial bills can be reserved for the consideration of the President after they are passed by the Legislature of the State.
