Question

The duration of Proclamation of Financial Emergency is __________
A)At the first instance one month
B)At the first instance two months
C)At the first instance six months
D)At the first instance one year.

Answer 1

Hint: Financial emergency refers to the situation where risk has arisen to the financial stability of any part of the country.
When the financial emergency arises, the executive government gives the financial orders to any state.
There are three types of Emergencies: national, state and financial emergency.

Complete answer:
Option A) At the first instance one month – is an incorrect answer because the duration of proclamation of financial emergency is not at the first instance of one month. Thus, it is incorrect here.

Option B) At the first instance two months – is a correct answer because the duration of proclamation of financial emergency is at the first instance of two months. Proclamation is an official announcement or declaration of something in an official and formal manner in the Public. The President of India has the power to declare financial emergencies in a country. Thus, it is correct here.

Option C) At the first instance six months – is an incorrect answer because the duration of proclamation of financial emergency is not at the first instance six months. Thus, it is incorrect here.

Option D) At the first instance one year – is an incorrect answer because the duration of proclamation of financial emergency is not at the first instance one year. Thus, it is incorrect here.

Hence, the correct answer is option (B)

Note: Proclamation is an official announcement or declaration of something in an official and formal manner in the Public.
Financial emergencies are an unexpected expense that cannot be dealt with and have a serious issue.
The first financial emergency held in India in 1975.