Financial Emergency: Article 360 (What You Need to Know?) | Indian Constitution скачать в хорошем качестве

Financial Emergency: Article 360 (What You Need to Know?) | Indian Constitution

Dr. Manishika Jain explains types of emergency - national, state and financial emergency article 360 in India The president under Article 360 of the constitution has the power to declare financial emergency if he is satisfied that the financial stability or the credit of India or any part of its territory is threatened.  India has not witnessed it so far The Government can reduce salary of govt employees including IAS, IPS officers and judges of the Supreme Court and High Courts. Every bill is strictly scrutinised before passing of it due to financial stringency. The bills passed by the state Governments are placed for approval of the President. However the fundamental rights are not suspended during state or financial emergency Financial emergency never occurred in India so far, although possibility of such a situation loomed large in 1990. The situation was managed when the Government of India pledged 40 MTs of gold with Bank of England and Swiss Bank to secure credit limits for imports. Under such a situation, the executive and legislative powers will go to the center. It must be approved by both Houses of Parliament within two months. A Proclamation issued under Art. 360 — (a) shall be laid before each House of Parliament (b) shall cease to operate at the expiration of two months, unless before the expiration of that period it has been approved by resolutions of both Houses of Parliament. The effects of the proclamation of Financial Emergency The Union Government may give direction to any of the States regarding financial matters. The President may ask the States to reduce the salaries and allowances of all or any class of persons in government service. The President may ask the States to reserve all the money bills for the consideration of the Parliament after they have been passed by the State Legislature. The President may also give directions for the reduction of salaries and allowances of the Central Government employees including the Judges of the Supreme Court and the High Courts. #examrace #upsc #ugcnet