Multiple choice

How many times has financial emergency been declared in India so far?

  1. 5 times

  2. 4 times

  3. Once

  4. Never
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Correct Answer: Never If the President is satisfied that there is an economic situation in which the financial stability or credit of India is threatened, he or she can declare financial emergency. Such an emergency must be approved by the Parliament within two months. It has never been declared. Such a situation had arisen, but was avoided by putting the gold assets of India as collateral for foreign credit.

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