Multiple choice

Which of the following statements is/are incorrect?

  1. During a financial emergency, the Centre acquires full control over the states in financial matters.
  2. So far, financial emergency has been declared only once in India and that was in 1991.

  1. Only 1

  2. Only 2

  3. Both of these

  4. Neither of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Statement 1 is perfectly correct. Statement 2 is incorrect: No financial emergency has been declared in India so far, though there was a financial crisis in 1991.

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