Question

Which one of the following is the financial power of the President?
A. To declare an emergency in the country
B. To call for a joint session of both Houses of Parliament
C. To appoint the Finance Commission after every five years
D. To grant pardon to a convict if a petition of mercy is submitted.

Answer 1

Hint: The President is the head of the state and the de jure head of the state. His office is not hereditary in nature. He is elected for 5 years through an electoral college consisting of the elected members of the parliament and elected members of the legislative assemblies of the State.

Complete Step by Step Answer: The President can exercise his executive powers directly or through his subordinates. He is also the Supreme Commander of the Armed Forces, and according to the Warrant of Precedence, he occupies the First position.
The President is assigned with executive, legislative, military, judiciary, emergency, financial and diplomatic powers. He also has veto power over the bills passed by the Parliament, that is, he can withhold his assent regarding any bills.
With respect to the financial powers, the President can appoint a Finance Commission every five years. He also has a control on the Contingency or Emergency fund of India for unforeseen or abnormal situations like a flood, war, drought etc. Without the recommendation of the President, no money Bill or demand for a grant can be introduced or moved in the parliament. On the recommendation of the President, a money bill is introduced in the Lok Sabha. He further has the authority to distribute export duty on jute and jute products between the Centre and the States of Assam, Bihar, West Bengal and Orissa.
Now, let us examine the options
Option A – The President can declare emergency in case of threats or if any state violates constitutional machinery but it is not a financial power of the President rather it an emergency power.
Option B – The President calls for a joint sitting of the Parliament under Article 108 of the Constitution but this does not belong to the financial powers of the President.
Option C – Yes, the President does appoint a Financial Commission every five years, so as to recommend the distribution of the taxes between the States and the Centre. He is the fiscal head of India.
Option D –As per Article 72 of the Constitution of India this power does not belong to the financial powers of the President
Hence, based on the above-mentioned points, the correct option is ‘C’.

Note: The President of India is vested with certain powers at the Union Level, such as the Executive, Legislative, Judicial, Emergency, Diplomatic, Military powers and Financial powers. Each of these powers has been described in detail in the Constitution of India. So, to answer this question, you need to be well versed with the Articles of the Indian Constitution.