In case of declaration of financial emergency:

• A.  All the State Governments will be dissolved and management of economy will be taken over by the Union Government
• B.  All Money Bills of the states will be considered and passed only by the Parliament
• C.  All the State Assemblies will be put under suspended animation and laws on the State List will be enacted by  Parliament
• D.  The President may give such directions to the states as may be deemed necessary for economic recovery and salaries of officials may be temporarily reduced