UPSC CSE Prelims 2007
Which of the statements given above is/are correct?
Statement 1 is correct. Article 360(2) of the Constitution of India stipulates that a proclamation of financial emergency shall cease to operate upon the expiration of two months from its date of issue, unless it has been approved by resolutions of both Houses of Parliament before the expiry of that period. Once approved, it continues indefinitely until revoked by the President.
Statement 2 is incorrect. Article 360(4)(a)(i) empowers the President, during a financial emergency, to issue directions for the reduction of salaries and allowances of all or any class of persons serving in connection with the affairs of the Union. This power explicitly extends to the Judges of the Supreme Court and the High Courts. Therefore, the statement's exclusion of these judges is factually inaccurate.
Option (b) is incorrect as it asserts only Statement 2 is correct, which is not the case.
Option (c) is incorrect because Statement 2 is factually inaccurate, making the assertion that both statements are correct invalid.
Option (d) is incorrect because Statement 1 is correct, thus negating the option that neither statement is correct.