Notes and Study material for Exams
The Finance Commission is an independent body constituted by the President of India to review the financial relations between the Union and the States. It is a constitutional body, and its recommendations are binding on the Union and the States. The Finance Commission was first constituted in 1951, and it has been constituted every five … Read more
Financial Emergency – Emergency Provisions (360) The Financial Emergency provisions of the Indian Constitution are contained in Article 360. These provisions were inserted in the Constitution by the 42nd Amendment in 1976. The provisions enable the President to declare a financial emergency if he is satisfied that a grave financial emergency exists whereby the financial … Read more