Under which Article of the Constitution of India can the President of India proclaim a Financial Emergency?

Introduction / Context:
The Constitution of India provides for three types of emergencies: National Emergency, President rule in states and Financial Emergency. Each type is governed by a different Article and has its own conditions and effects. This question focuses on Financial Emergency and asks you to recall the specific Article under which the President can declare such an emergency. Familiarity with these Articles is essential for examinations on Indian polity and governance.

Given Data / Assumptions:

The question is explicitly about Financial Emergency, not National Emergency or President rule.
Four Article numbers are given as options: 32, 349, 360 and 365.
You are expected to match the correct Article to the power of the President to proclaim a Financial Emergency.

Concept / Approach:
The key concept is that Financial Emergency is provided for under Article 360 of the Constitution. This Article allows the President to proclaim such an emergency if he or she is satisfied that the financial stability or credit of India or any part of its territory is threatened. Article 352 deals with National Emergency, Article 356 with President rule in states and Article 360 with Financial Emergency. Article 32 is about the right to constitutional remedies, Article 349 relates to language issues and Article 365 is about failure of a state to comply with Union directions. The approach is simply to associate Financial Emergency with Article 360.

Step-by-Step Solution:
Step 1: Recall that the three main emergency Articles are 352, 356 and 360. Out of these, 360 is specifically for Financial Emergency. Step 2: Note that Article 32 provides the right to move the Supreme Court for the enforcement of Fundamental Rights and is unrelated to emergencies. Step 3: Article 349 deals with special procedures in connection with the language to be used in Parliament, and Article 365 concerns the effect of failure by a state to comply with directions given by the Union. Step 4: Since the question clearly mentions Financial Emergency, and only Article 360 deals with that situation, the correct option is Article 360.

Verification / Alternative check:
Any standard Indian polity book summarises emergency provisions by listing Article 352 for National Emergency, Article 356 for President rule in states and Article 360 for Financial Emergency. These are often presented together in tables or charts to help exam aspirants remember them. A quick mental check of that summary confirms that Article 360 is associated with Financial Emergency and not the other articles listed in the options.

Why Other Options Are Wrong:
Article 32: This is the right to constitutional remedies, famously called the heart and soul of the Constitution by Dr B R Ambedkar, and has nothing to do with declaring emergencies. Article 349: This deals with language safeguards and special procedures in Parliament, and does not empower the President to declare any emergency. Article 365: This allows the President to hold that a situation has arisen in which the government of a state cannot be carried on in accordance with the Constitution if the state fails to comply with Union directions, but it is not the Financial Emergency Article.

Common Pitfalls:
A frequent mistake is to confuse the numbers of emergency Articles, especially under exam pressure. Some candidates also mix up Article 356 and 365 because both may be discussed together when studying centre state relations. To avoid confusion, remember a simple pattern: 352 for National Emergency, 356 for state emergency or President rule and 360 for Financial Emergency. Attaching a mnemonic such as "3 6 0 for zero money" can help fix Article 360 in your memory for financial crises.

Final Answer:
The President of India can proclaim a Financial Emergency under Article 360 of the Constitution.