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Under what circumstances can the Financial Emergency be proclaimed by the President of India? What consequences follow when such a declaration remains in force? (150 words) [UPSC 2018]
Article 360 empower the President to impose financial emergency in the country, if there is a threat to financial instability or credit of India or any part of its territory. Consequences of Financial Emergency: Executive Authority: Union government can give direction to any state to observe financiRead more
Article 360 empower the President to impose financial emergency in the country, if there is a threat to financial instability or credit of India or any part of its territory.
Consequences of Financial Emergency:
Executive Authority: Union government can give direction to any state to observe financial propriety and also give other direction to any state as the president think it as necessary for the purpose.
Parliamentary Approval: The proclamation must be approved by both house of Parliament within two months.
Duration: It will be in operation for an indefinite period of time till the President revoke its imposition and Parliamentary approval is not required for its revocation.
Reduction of salaries: Union government can also give direction for reduction in salaries of all or any class of persons serving in state. It also include the judges of High court and Supreme court.
Reserve of Money bill: All money bills and other financial bills of state require president’s approval.
Legislation Implication: During the operation of a financial emergency, the Centre acquires full control over the states in financial matters.
The financial emergency provision pose a serious threat to the financial autonomy of the states. During a Financial Emergency, the President can restore stability, but may temporarily limit certain rights and privileges of officials and citizens. The Financial Emergency has never been imposed in any part of country, neither has Article 360 been used till now.
See lessUnder what circumstances can the Financial Emergency be proclaimed by the President of India? What consequences follow when such a declaration remains in force? (150 words) [UPSC 2018]
Article 360 empower the President to impose financial emergency in the country, if there is a threat to financial instability or credit of India or any part of its territory. Consequences of Financial Emergency: Executive Authority: Union government can give direction to any state to observe financiRead more
Article 360 empower the President to impose financial emergency in the country, if there is a threat to financial instability or credit of India or any part of its territory.
Consequences of Financial Emergency:
Executive Authority: Union government can give direction to any state to observe financial propriety and also give other direction to any state as the president think it as necessary for the purpose.
Parliamentary Approval: The proclamation must be approved by both house of Parliament within two months.
Duration: It will be in operation for an indefinite period of time till the President revoke its imposition and Parliamentary approval is not required for its revocation.
Reduction of salaries: Union government can also give direction for reduction in salaries of all or any class of persons serving in state. It also include the judges of High court and Supreme court.
Reserve of Money bill: All money bills and other financial bills of state require president’s approval.
Legislation Implication: During the operation of a financial emergency, the Centre acquires full control over the states in financial matters.
The financial emergency provision pose a serious threat to the financial autonomy of the states. During a Financial Emergency, the President can restore stability, but may temporarily limit certain rights and privileges of officials and citizens. The Financial Emergency has never been imposed in any part of country, neither has Article 360 been used till now.
See less