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Q. |
In India, how many times has the President declared Financial Emergency? |
A. | Once |
B. | Never |
C. | Thrice |
D. | Twice |
Answer» B. Never | |
Explanation: No Financial Emergency has been declared so far, though there was a financial crisis in 1991. Article 360 empowers the president to proclaim a Financial Emergency if he is satisfied that a situation has arisen due to which the financial stability or credit of India or any part of its territory is threatened. |
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