According to Article 360 of the Constitution President can declare a Financial Emergency Consider th...........

Indian Polity Emergency

According to Article 360 of the Constitution, President can declare a Financial Emergency. Consider the following statements regarding Financial Emergency:

1. The President can reduce the salaries of all government officials, excluding judges of the Supreme Court and High Courts.

2. Fundamental Rights are suspended.

3. After the Money bills are passed by the Legislature of the State, they are reserved for the final approval of the President.

Which of the above statements are incorrect?

1&2 only

2&3 only

2 only

All the above

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Explanation:

In case of a financial emergency, the President can reduce the salaries of all government officials, including judges of the Supreme Court and High Courts. All money bills passed by the State legislatures are submitted to the President for his approval. He can direct the state to observe certain principles (economy measures) relating to financial matters; but fundamental rights cannot be suspended.