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Explain the consequences of a financial emergency.

 

Asked by Topperlearning User 29th April 2016, 4:19 PM
Answered by Expert
Answer:

The following are the effects of a financial emergency:

  • The President appoints a Finance Commission which would suggest ways to take the country out of the financial crisis.
  • The government would direct the state government to follow certain financial rules.
  • The President can instruct the states to reduce the salaries and allowances of all the public servants including the judges of the Supreme Court and High Courts.
  • The President can order the government to submit money bills to him/her for assent.
  • The President has the right to issue instructions to the state government with respect to the funds utilised in the manner he/she deems fit.
Answered by Expert 29th April 2016, 6:19 PM
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