Question

How many times has Financial Emergency been declared in India so far?

• A. One time
• B. Two times
• C. Three times
• D. Never

Hint:

Three types: 352—National (War/External Aggressiormed Rebellion); 356—State (Failure of constitutional machinery); 360—Financial (Never used).

Answer 1

The Correct Option is D

Step 1: Provision. Article 360 provides for Financial Emergency in case of a threat to financial stability or credit of India or any part thereof.

Step 2: Historical note. Unlike National Emergency (declared 3 times) and President's Rule in states (frequent), no Financial Emergency has ever been proclaimed.

Step 3: Consequence if declared (for understanding). It would allow central control over financial matters, including directions to states, and modification of salary structures for certain categories.

Step 4: Conclude. \[ \boxed{\text{Never (Option D).}} \]