Article 360 of Constitution of India "Provisions as to financial emergency"
(1) If the President is satisfied that a situation has
arisen whereby the financial stability or credit of India or
of any part of the territory thereof is threatened, he may
by a Proclamation make a declaration to that effect.
(2) A Proclamation issued under clause (1) -
(a) may be revoked or varied by a subsequent Proclamation;
(b) shall be laid before each House of Parliament;
(c) shall cease to operate at the expiration of two
months unless before the expiration of that period it has
been approved by resolutions of both Houses of Parliament:
Provided that if any such Proclamation is issued at a time when the House of the People has been dissolved or the dissolution of the House of the People takes place during the period of two months referred to in sub-clause ?, and if a resolution approving the Proclamation has been passed by the Council of States, but no resolution with respect to such Proclamation has been passed by the House of the People before the expiration of that period, the Proclamation shall cease to operate at the expiration of thirty days from the ate on which the House of the People first sits after its reconstitution, unless before the expiration of the said period of thirty days a resolution approving the Proclamation has been also passed by the House of the People.
(3) During the period any such Proclamation as is mentioned
in clause (1) is in operation, the executive authority of
the Union shall extend to the giving of directions to any
State to observe such canons of financial propriety as may
be specified in the directions, and to the giving of such
other directions as the President may deem necessary and
adequate for the purpose.
(4) Notwithstanding anything in this Constitution-
(a) any such direction may include-
(i) a provision requiring the reduction of salaries and allowances of all or any class of persons serving in connection with the affairs of a State;
(ii) a provision requiring all Money Bills or other Bills to which the provisions of Article 207 apply to be reserved for the consideration of the President after they are passed by the Legislature of the State;
(b) it shall be competent for the President during the period any Proclamation issued under this article is in operation 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 including the Judges of the Supreme Court and the High Courts.
What is Official language or languages of a State? What is Official language for communication between one State and another or between a State and the Union? What is Special provision relating to language spoken by a section of the population of a State? Article 345, 346 and 347 of Constitution of India, 1949
What is the Language to be used in the Supreme Court and in the High Courts and for Acts, Bills, etc? What is the Special procedure for enactment of certain laws relating to language? Article 348 and 349 of Constitution of India, 1949
What is the Language to be used in representations for redress of grievances? What are the Facilities for instruction in mother-tongue at primary stage? Article 350 and 350A of Constitution of India, 1949
What is the Effect of Proclamation of Emergency? What is Application of provisions relating to distribution of revenues while a Proclamation of Emergency is in operation? Article 353 and 354 of Constitution of India, 1949
What is the meaning Duty of the Union to protect States against external aggression and internal disturbance? What are the Provisions in case of failure of constitutional machinery in State? Article 355 and 356 of Constitution of India, 1949
What is Exercise of legislative powers under Proclamation issued under Article 356? What is Suspension of provisions of Article 19 during emergencies? Article 357 and 358 of Constitution of India, 1949