Q. During financial emergency, the President can:
1. ask the states to reduce the salaries arid allowances of all or any class of persons serving in connection with the affairs of the State.
2. ask the states to reserve money bills passed by the state legislature for his consideration.
3. issue directions to states on financial matters.
4. issue directions for the reduction of salaries and allowances of persons serving in
connection with the affairs of the Union.