Consider the following statements in respect of financial emergency under Article 360 of the C...........

Indian Polity Emergency

Consider the following statements in respect of financial emergency under Article 360 of the Constitution of India:

1. A financial emergency is always declared along with National Emergency.

2. Once approved by the Parliament, the financial emergency shall remain in force for an indefinite period till the President revokes it.

3. President may reduce salaries of Constitutional functionaries and civil servants while the Financial Emergency is in force.

Which of the statements given above is/are correct?

all are correct

1,3

1,4

2,3

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Explanation:

Financial Emergency is dealt under Article 360 while National emergency is declared under Article 352. These are not declared concurrently. Once approved the financial emergency shall remain in force for an indefinite period till the President revokes the financial emergency. When the financial emergency is enforced the distributions of financial resources between Centre and State is suspended. The President may also reduce the salaries and allowances of the Civil servants at the Union level and Constitutional functionaries of the Union, including the judges of the Supreme Court and High Courts. . He may direct the Governor of State to reserve all the money and the financial bills passed by the State Legislature for his consideration.