After declaration of financial emergency what is the maximum period of its operation without approval of Parliament?
A. Four months
B. Three months
C. Two months
D. One month
Answer: Option C
This Question Belongs to Law >> Constitution Of India
Join The Discussion
Comments (1)
Related Questions on Constitution of India
Chief Election Commissioner of India may be removed by
A. Resolution of cabinet by two third majority
B. Resolution of both houses
C. On recommendation of Chief Justice of India
D. None of these
The largest committee of Parliament of India is
A. Public Accounts Committee
B. Estimates Committee
C. Committee on Public Undertakings
D. Joint Parliamentary Committee
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
A. 3 months
B. 6 months
C. 6 weeks
D. 15 days
Financial Emergency
Grounds of declaration: Article 360 empowers the president to proclaim a Financial Emergency if he is satisfied that a situation has arisen due to which the financial stability or credit of India or any part of its territory is threatened.
Parliamentary approval and duration: A proclamation declaring financial emergency must be approved by both the Houses of Parliament within two months from the date of its issue.
If the proclamation of Financial Emergency is issued at a time when the Lok Sabha has been dissolved or the dissolution of the Lok Sabha takes place during the period of two months without approving the proclamation, then the proclamation survives until 30 days from the first sitting of the Lok Sabha after its reconstitution, provided the Rajya Sabha has in the meantime approved it.
Once approved by both the houses of Parliament, the Financial Emergency continues indefinitely till it is revoked.