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March 26, 2024 412 0
Article 360 of the Indian Constitution provides for the proclamation of a financial emergency in India. It grants the President of India the power to declare a state of financial emergency if he/she is satisfied that the financial stability or credit of the nation is threatened. This article allows for the central government to assume a greater degree of control over the financial affairs of the states.
EMERGENCY PROVISIONS (Part XVIII: Articles 352 – 360)
Important Articles
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Financial Emergency in India: Grounds, Approval, Duration, and Revocation |
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Grounds of Declaration |
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Parliamentary Approval |
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Duration |
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Judicial Review |
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Revocation |
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Imposition |
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Impact of Financial Emergency: Executive Authority and Presidential Directives
Comparative Analysis of National, State, and Financial Emergencies in India
Article | Approval | Majority | Revocation | Period/Periodic Approval |
352 | Within one month | Special |
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Unlimited/ Periodic approval Every 6 months with special majority |
356 | Within two months | Simple |
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Maximum 3 years /Periodic approval every 6 months with a simple majority. |
360 | Within two months | Simple |
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Unlimited (Repeated approval not required). |
Conclusion
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