Indian constitution article 293 explained #tnpsc #tnpscstudy #education #motivation #exam #upsc

Article 293 of the Constitution of India regulates the borrowing powers of state governments. It allows states to borrow within India secured by their Consolidated Fund. However, if a state has outstanding central loans, it must obtain explicit consent from the central government to raise fresh loans, which allows the Centre to impose fiscal conditions.Key ProvisionsClause (1) - State Autonomy: States have the executive power to borrow within India upon the security of their Consolidated Fund, subject to limits set by their respective state legislatures.Clause (2) - Central Loans: The central government can make loans to states or guarantee state loans, charged to the Consolidated Fund of India.Clause (3) - The Restriction: If a state is currently indebted to the Centre (or holds loans guaranteed by the Centre), it cannot raise new loans without the consent of the Government of India.Clause (4) - Conditional Consent: The Centre can grant or deny this consent and attach specific fiscal conditions

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