Who has a power to borrow under Article 293?
Who has a power to borrow under Article 293?
Chapter II in Part XII of the Constitution of India deals with borrowing. Article 292 covers borrowing by the Central Government, and Article 293 covers borrowing by States.
Can States borrow from abroad?
Citing Article 293 (3) of the Indian Constitution, he said a state can’t raise borrowings without the Centre’s consent if it has any loan outstanding which is repayable to the Government of India. Also, unlike the Centre, states cannot directly borrow from external sources.
What are the provision of the Constitution regarding borrowing by the States in India?
CONSTITUTIONAL SCHEME A. Chapter II in Part XII of the Constitution of India deals with borrowing. Article 292 covers borrowing by the Central Government, and Article 293 covers borrowing by States.
What is Article 293 state?
3.1 In terms of Article 293(1) of the Constitution of the India, the State governments can give guarantees within such limits as fixed by the legislature of the concerned State. A consent under Clause (3) may be granted subject to such conditions if any as the Government of India may think fit to impose.
What is the Article 256?
Article 256, states that ‘Every State shall utilize its executive powers in conformity with the laws made by the Parliament and with all the pre-existing laws prevailing in the State, and it further mentions that, the Union may exercise its executive power to give directions to the State as and when the Government of …
Can states borrow from RBI?
The states, in coordination with the Reserve Bank of India (RBI), schedule the actual borrowings, subject to the threshold. The FY22 borrowing by states is seen to be in the region of Rs 8.7 lakh crore, including about Rs 1 lakh crore earmarked for capex, due the mandatory stipulation of 50 bps capex.
What does article 293 of Constitution of India deal with?
Article 293 of Constitution of India deals with Borrowing by States.
What was Article 273 of the Indian Constitution?
Article 273 of Indian Constitution: Grants in lieu of export duty on jute and jute products. Article 273 Grants in Article 274 of Indian Constitution: Prior recommendation of President required to Bills affecting taxation in which States are interested. Article
What are the conditions for consent under Clause 3 of Constitution of India?
(4) A consent under clause (3) may be granted subject to such conditions, if any, as the Government of India may think fit to impose.
Which is an article of the Indian Constitution?
Article 283 of Indian Constitution: Custody, etc., of Consolidated Funds, Contingency Funds and moneys credited to the public accounts. Article