No Financial Emergency has been imposed on the country so far. Article 360 deals with Financial Emergency. (This article, however,shall not apply to the state of Jammu and Kashmir)
Federalism ::
Federalism is a system based upon democratic rules and institutions in which the power to govern is shared between national and provincial/state governments, creating what is often called a federation.
Federalism is a political concept in which a group of members are bound together with a governing representative head.
Federalism enables the state and the national government to share power.
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