Q. Discuss the role of the Parliament on financial affairs when Proclamation of Emergency is in operation Ans. When a National Emergency is in operation under Art. 352, the Parliament has the power to make laws conferring powers and imposing duties on any matter enumerated in the State List as per the provision of Art. 353. According to Art. 354, the President may, while a proclamation of Emergency is in opration, by order direct that all or any of the provisions of Art. 268 to 279 shall for such period cease to operate or shall be effective with such exceptions or modification as he thinks fit. If the President of India is satisfied, that a situation has arisen whereby the financial stability or credit of India is threatend, he may by a proclamation, make a declaration to that effect. When a Financial Emergency is in operation under Art. 360, the President shall extent directions to any State to observe such canons (rules) of financial propriety (rightness) as may be specified in...