Part-1
Article 292 - Borrowing by Government of India
executive power of union to borrow & give guarantee-collateral Consolidated Fund of India
limit- fixed by parliment from time to time by law.
Article 293- Borrowing by Indian States
1. executive power of the state to borrow & give guarantees within such limits upon Consolidated fund of state as security fixed by LA by law.
2. GoI subject to conditions laid by parliment or by law make loan to any state & within lmits of art.292 can give guarantee to state
3. If any loan amount outstanding made by union to state or guarantee, a state govt cannot raise further loan without consent from GoI
4. a consent under clause (3) may be granted by GoI may think fit to impose.
Article-294- Succession of property,assets, rights,liabilities and obligations of certain cases.
1.proerty ,assets under His Majesty transferred to GoI and GoStates - from commencement of Const.
2. Rights,Liabilities & Obligations " "
Article-295 -Succession of Property,assets,right, liabilities and Obligations in Other Cases,
1.(a) Property,assets, of state specified in Part B of First Schedule shall vest in Union for same purpose as before commencement of constitution.-matter enumerated in UNION LIST
(b).rights,liabilities and Obligations "".
2. Govt of Corresponding state shall be the successor of property ,assets, rights ,liabilities,Obligations for matters not covered in clause 1.
Article -296 -Property accruing by Escheat or lapse or by bona vocantia.
property situate in state - shall belong to particular state.
Any other Case- shalll vest in Union.
Article 292 - Borrowing by Government of India
executive power of union to borrow & give guarantee-collateral Consolidated Fund of India
limit- fixed by parliment from time to time by law.
Article 293- Borrowing by Indian States
1. executive power of the state to borrow & give guarantees within such limits upon Consolidated fund of state as security fixed by LA by law.
2. GoI subject to conditions laid by parliment or by law make loan to any state & within lmits of art.292 can give guarantee to state
3. If any loan amount outstanding made by union to state or guarantee, a state govt cannot raise further loan without consent from GoI
4. a consent under clause (3) may be granted by GoI may think fit to impose.
Article-294- Succession of property,assets, rights,liabilities and obligations of certain cases.
1.proerty ,assets under His Majesty transferred to GoI and GoStates - from commencement of Const.
2. Rights,Liabilities & Obligations " "
Article-295 -Succession of Property,assets,right, liabilities and Obligations in Other Cases,
1.(a) Property,assets, of state specified in Part B of First Schedule shall vest in Union for same purpose as before commencement of constitution.-matter enumerated in UNION LIST
(b).rights,liabilities and Obligations "".
2. Govt of Corresponding state shall be the successor of property ,assets, rights ,liabilities,Obligations for matters not covered in clause 1.
Article -296 -Property accruing by Escheat or lapse or by bona vocantia.
property situate in state - shall belong to particular state.
Any other Case- shalll vest in Union.
