Multiple choice general knowledge history

Who declares the financial emergency?

  1. President

  2. Prime Minister

  3. Finance Minister

  4. None of the above
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A Correct answer
Explanation

Under Article 360 of the Indian Constitution, the President has the authority to declare a Financial Emergency if satisfied that a situation has arisen threatening India's financial stability or credit. This declaration must be approved by Parliament within two months. The Finance Minister and Prime Minister may recommend the declaration, but only the President can formally proclaim it. A Financial Emergency has never been declared in India.

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