Question

How many times has a Financial Emergency under Article 360 been proclaimed in India?

• A. Once -- during the 1975 Emergency
• B. Never
• C. Twice -- in 1962 and 1975
• D. Once -- during the 1962 war with China

Hint:

Remember the emergency provisions: align* Article 352 & National Emergency
Article 356 & President's Rule
Article 360 & Financial Emergency align* Among these, Financial Emergency has never been declared in India.

Answer 1

The Correct Option is B

Step 1: Recall the three emergencies.
The Constitution allows National Emergency, President's Rule and Financial Emergency.

Step 2: Focus on Financial Emergency.
Article 360 lets the President declare a Financial Emergency if the financial stability or credit of India is threatened.

Step 3: Check India's history.
Even during the 1966 crisis and the 1991 balance of payments crisis, no government invoked Article 360.

Step 4: Compare with the others.
National Emergency has been declared three times and President's Rule many times, but Financial Emergency never.

Step 5: Conclude.
The correct count for Article 360 is zero, that is, never.

Answer: Never (Option 2).