Question
A state government wants to raise a loan from the market, but it still owes money to the Central Government on an earlier loan. The state is told it cannot borrow without the consent of the Centre in this situation. Under which Article of the Constitution does this restriction on state borrowing appear?
Option 1 : Article 293
Detailed Solution
सही उत्तर Article 293 है।
Article 293 provides that a state may not raise a loan without the consent of the Government of India if any part of a previous loan from the Centre is still outstanding.
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prepsnap.in • GeneralQuestion:
A state government wants to raise a loan from the market, but it still owes money to the Central Government on an earlier loan. The state is told it cannot borrow without the consent of the Centre in this situation. Under which Article of the Constitution does this restriction on state borrowing appear?
Correct Answer: Article 293
Article 293 provides that a state may not raise a loan without the consent of the Government of India if any part of a previous loan from the Centre is still outstanding.