Article 292 in Constitution of India
292. Borrowing by the Government of India
The executive power of the Union extends to borrowing upon the security
Article 293 in Constitution of India
293. Borrowing by States
(1) Subject to the provisions of this article, the executive power of a State extends ... State or, so long as any limits fixed under article 292 are not exceeded, give guarantees in respect of loans raised by any State
clause (5) of article 67,the following words
be deleted:--
`Subject to the provisions of articles 292 and 293 of this Constitution;
and the following ... seats as has
been provided in the Constitution, i.e. under article 292. The other is
proportional representation. There are very serious defects about
Constituent Assembly Debates On 23 August, 1949 Part Ii
CONSTITUENT ASSEMBLY OF INDIA - VOLUME IX
have heard that there have been some suggestions about resorting to article 292 of the Constitution and have some gap on the borrowing. If adequate
with this Bill.
This Bill, in fact, is a replica of articles 292 and 293 , wherein the Constitution of India allows the Government of India ... totally a different Bill. That does not fall according to article 292 because that is only for borrowing and there the borrowing, which has been
Anraj & Ors. v. State of Maharashtra ,
[1984] 2 SCC 292, (hereinafter referred to as "Anraj case-I"), also
referred by other counsel ... part of the right to carry on
business granted under Article 298 of the Constitution, hence it could
hardly be said that it would
borrowing within
the meaning of Art 292 of the Constitution for borrowing
under this Article is an executive action and not
legislative power except ... action should have
been by an Act giving effect to Art. 292. Article 292 reads
:
"292. Borrowing by the Government of India.
The executive
Constituent Assembly Debates On 14 November, 1949
CONSTITUENT ASSEMBLY OF INDIA - VOLUME XI
Monday, the
State legislatures which moved Parliament to enact the aforesaid Act under Article 292(1) of the Constitution.
23. In Pipraich Sugar Mills Ltd. v. Pipraich