15-12-2017, 03:31 PM
Financial Emergency (Article -360)
*If the frnanc ial stability or the credit of India or any part thereof is threatened, the President can declare Financial Emergency under Article 360 of the constitution. Indian Constitution
*Financial Emergency declared by the President must be approved by the Parliament within 2 months by simple majority.
*If it is approved, it will remain in force until revoked by the President. Repeated Parliamentary approval is not required for its continuation.
Indian Constitution
*During Financial Emergency, President may issue directions for the reduction of salaries and allowances of all or any class of persons serving the Union and the states including the Judges of the Supreme Court and High Courts.
*During Financial Emergency the states may be directed to reserve all money bills or other financial bills for the consideration of the President after they are passed by the legislature of the state.
*No Financial Emergency has been declared so far in India.
Presidents of India
1.Rajendra Prasad 1950-1962
2.Sarvepalli Radhakrishnan 1962-1967
3.Zakir Hussain 1967-1969
4.V.V.Giri 1969-1974
5.Fakhruddin Ali Ahmed 1974-1977
6.Neelam Sanjeeva Reddy 1977-1982
7.Gyani Zail Singh 1982-1987
8.R. Venkataraman 1987-1992
9.Shankar.Dayal Sharma 1992-1997
10.K.R. Narayanan 1997-2002
11.A.P.J. Abdul Kalam 2002-2007
12.Pratibha Patil 2007-2012
13.Pranab Mukherjee 2012-Incumbent
Dr. RAJENDRA PRASAD
*Born on - 3rd December 1884
*He is known as Bihar Gandhi
*He met Gandhiji at the Lucknow Congress Session - 1916
*He became the President of INC in 1934 - 1935 at the Bombay Session
*He also became the president when Subhash Chandra Bose resigned from the post of INC president in 1939
*Rajendra Prasad was elected as the permanent president of the constituent Assembly on 11th December 1946
*He was the Union Minister for Food and Agriculture in the Interim Ministry headed by Jawaharlal Nehru, formed on 2nd September 1946 and in the first cabinet of free India formed on 15th August 1947.
*The first president of India - Dr. Rajendra Prasad
*The only one person to hold the post of president of India two terms - Dr. Rajendra Prasad
*The first Asian Games was inaugurated by Dr. Rajendra Prasad at Delhi in 1951
*The president of India who suspended the first EMS ministry in Kerala using Article 356 of Indian constitution - Rajendra Prasad
