Consider the following statements about Financial Emergency in India:

  1. Resolution approving the proclamation of financial emergency can be passed by either House of Parliament by a simple majority
  2. The proclamation for emergency can be revoked by a subsequent proclamation by President

    Which of the above statements is/are correct?

Answer: [C] Both 1 & 2

Both are correct statements.

This question is a part of GKToday's Integrated IAS General Studies Module