The correct answer is: A. 360
Article 360 of the Indian Constitution deals with the proclamation of financial emergency. It states that if the President is satisfied that a grave financial emergency exists whereby the financial stability or credit of India is threatened, he may by Proclamation, make a declaration to that effect.
However, Article 370 of the Indian Constitution grants special status to Jammu and Kashmir. This article states that the provisions of the Constitution of India, except for Articles 1 and 370, shall apply to the State of Jammu and Kashmir with such exceptions and modifications as the President may by order specify.
One of the exceptions specified by the President is that Article 360 shall not apply to the State of Jammu and Kashmir. This means that the President cannot proclaim a financial emergency in Jammu and Kashmir.
The other options are incorrect because they do not deal with the financial emergency. Article 365 deals with the failure of constitutional machinery in a State. Article 370 deals with the special status of Jammu and Kashmir. Article 385 deals with the temporary provisions with respect to the State of Jammu and Kashmir.