Financial Emergency Article Identified

The President of India has the power to declare a Financial Emergency under specific circumstances to maintain financial stability and creditworthiness of the country.

This power is explicitly granted by the Constitution of India.

Constitutional Provision for Financial Emergency

Article 360 of the Indian Constitution empowers the President to declare a Financial Emergency.

• The President can invoke this emergency if satisfied that a situation has arisen whereby the financial stability or credit of India, or of any part of its territory, is threatened.
• Such a proclamation requires thespecial approval of both Houses of Parliament.

Other emergency provisions in the Indian Constitution include:

• Article $352$: National Emergency
• Article $356$: State Emergency (President's Rule)

Therefore, Article $360$ is the specific provision for declaring a Financial Emergency.