Paper I · 5 Indian Polity & Governance · 5.5.4 Emergency, special provisions and schedules

5.5.4.3 Financial emergency (Article 360)

Article 360 lets the President declare a Financial Emergency when the financial stability or credit of India or any part of it is threatened. It gives the Union control over state finances and allows salary cuts, even of judges. It has never been used.

  • APPSC Paper I · Paper I
  • Standard level
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  • Full course

Key terms

  • financial emergency
  • financial stability
  • credit of India
  • 38th Amendment
  • 44th Amendment
  • salary cuts
  • money bills reserved
  • 1991 crisis

What this note covers

  1. Core factsFoundation
  2. ExplainedStandard
  3. DeeperAdvanced
  4. Mains writingMains writing
  5. Common trapsFoundation
  6. Quick revisionFoundation

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