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The Constitution of India in English 2026: page 198

The Constitution of India in English 2026, India Code delivered snapshot ed1820c0a1100c2c, physical page 198, typed edition 223d395df4de00897c78a4c0a752b32348d86f7c4f7013254fd4e03da46ceca0. Unreviewed extraction.

Source: official India Code PDF · catalog record. Fetched 2026-10-19T23:32:36Z. SHA-256 ed1820c0a1100c2c6aa8ece835a8c8a60f996ae7eba30cc1798233683c66cfba.

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Source cover/preface date: 10th September, 2026. Preface amendment statement: Constitution (One Hundred and Sixth Amendment) Act, 2023. Embedded PDF title: Constitution of India_ 20 MAY 2026 (final).pdf. These are distinct source labels, not currentness or commencement approval.

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167                  THE CONSTITUTION OF INDIA
                 (Part XII.—Finance, Property, Contracts and Suits)

      291. [Privy purse sums of Rulers.].—Omitted by the Constitution
(Twenty-sixth Amendment) Act, 1971, s. 2 (w.e.f. 28-12-1971).
                           CHAPTER II.—BORROWING
       292. Borrowing by the Government of India.—The executive power
of the Union extends to borrowing upon the security of the Consolidated Fund
of India within such limits, if any, as may from time to time be fixed by
Parliament by law and to the giving of guarantees within such limits, if any, as
may be so fixed.
       293. Borrowing by States.—(1) Subject to the provisions of this article,
the executive power of a State extends to borrowing within the territory of India
upon the security of the Consolidated Fund of the State within such limits, if any,
                                                       e
as may from time to time be fixed by the Legislature of such State by law and to
                                                  od
the giving of guarantees within such limits, if any, as may be so fixed.
                                             aC
       (2) The Government of India may, subject to such conditions as may be
laid down by or under any law made by Parliament, make loans to any State or,
                                         di
so long as any limits fixed under article 292 are not exceeded, give guarantees
                                     In
in respect of loans raised by any State, and any sums required for the purpose
of making such loans shall be charged on the Consolidated Fund of India.
       (3) A State may not without the consent of the Government of India raise
any loan if there is still outstanding any part of a loan which has been made to
the State by the Government of India or by its predecessor Government, or in
respect of which a guarantee has been given by the Government of India or by
its predecessor Government.
       (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.
          CHAPTER III.—PROPERTY, CONTRACTS, RIGHTS, LIABILITIES,
                            OBLIGATIONS AND SUITS
       294. Succession to property, assets, rights, liabilities and obligations
in certain cases.—As from the commencement of this Constitution—
            (a) all property and assets which immediately before such
      commencement were vested in His Majesty for the purposes of the
      Government of the Dominion of India and all property and assets which
      immediately before such commencement were vested in His Majesty for
      the purposes of the Government of each Governor’s Province shall vest
      respectively in the Union and the corresponding State; and

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