Consider the following statements in respect of financial emergency under Article 360 of the Constitution of India: 1. A Proclamation of financial emergency issued shall cease to operate at the expiration of two months, unless before the expiration of tha

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Q: 140 (IAS/2007)
Consider the following statements in respect of financial emergency under Article 360 of the Constitution of India:
1. A Proclamation of financial emergency issued shall cease to operate at the expiration of two months, unless before the expiration of that period it has been approved by the resolutions of both Houses of Parliament.
2. If any Proclamation of financial emergency is in operation, it is competent for the President of India to issue directions for the reduction of salaries and allowances of all or any class of persons serving in connection with the affairs of the Union but excluding the Judges of the Supreme Court and the High Courts.
Which of the statements given above is/are correct?

question_subject: 

Polity

question_exam: 

IAS

stats: 

0,89,145,89,41,43,61

keywords: 

{'financial emergency': [3, 0, 1, 0], 'proclamation': [4, 0, 0, 4], 'constitution': [39, 3, 11, 39], 'parliament': [15, 1, 3, 8], 'operation': [2, 0, 4, 3]}

The correct answer is `1 only`.

Analyzing the options:

Option 1: This part of the statement is accurate as per Article 360 of the Indian Constitution. In a financial emergency, the Proclamation of emergency must be approved by both houses of Parliament within two months; otherwise, it ceases to operate.

Option 2: This statement is inaccurate because during a financial emergency, the President is indeed empowered to issue directions for the reduction of salaries and allowances of all or any class of persons serving in connection with the affairs of the Union, but it includes the Judges of the Supreme Court and the High Courts also, not excluding them.

Therefore,

out of the two statements mentioned, only the first statement aligns with Article 360 of the Indian Constitution regarding a financial emergency. So, the correct answer is `1 only`, which refers to the first statement being correct.

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