Question

Under which Article of the Indian Constitution can the President impose Financial Emergency?

• A. Article 352
• B. Article 356
• C. Article 360
• D. Article 365

Hint:

Types of emergencies in the Indian Constitution:

• \textbf{Article 352} → National Emergency
• \textbf{Article 356} → President's Rule (State Emergency)
• \textbf{Article 360} → Financial Emergency

Memory trick: \[ \textbf{352 → Nation} \] \[ \textbf{356 → State} \] \[ \textbf{360 → Finance} \]

Answer 1

The Correct Option is C

Step 1: Understanding the Question:
The question asks to identify the specific Article of the Indian Constitution that deals with the imposition of a Financial Emergency.
Step 2: Detailed Explanation:
The Constitution of India contains provisions for three types of emergencies:

Article 352: Pertains to the National Emergency, which can be declared on the grounds of war, external aggression, or armed rebellion.

Article 356: Pertains to the State Emergency (or President's Rule), which can be imposed in a state if the constitutional machinery fails.

Article 360: Empowers the President to proclaim a Financial Emergency if he is satisfied that a situation has arisen whereby the financial stability or credit of India or of any part of its territory is threatened.

Article 365 is related to Article 356 and states that if a state fails to comply with directions from the Union, it can be a ground for imposing President's Rule.
Therefore, the correct article for Financial Emergency is Article 360.
Step 3: Final Answer:
The President can impose a Financial Emergency under Article 360 of the Indian Constitution.