Question

The duration of proclamation of Financial Emergency is __________________.

• A. at the first instance one month
• B. at the first instance two months
• C. at the first instance six months
• D. at the first instance one year

Answer 1

The correct option is B at the first instance two months

Under Article 360 of the Indian Constitution President can impose a financial emergency if he is satisfied that a situation has arisen due to which financial stability or credit of India or any part of it is in danger. The proclamation must be approved by both the houses of Parliament within two months of its issue.