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Article 292 Of Indian Constitution In English
Article 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.
Article 292 In English
292 Article – Borrowing by the Government of India.
The executive power of the Union extends to borrowing against the Consolidated Fund of India within such limits, if any, as may be prescribed by Parliament from time to time by law, and to guarantee within such limits, if any , as may be prescribed.
Note- All the things mentioned in this have been taken from the Indian Constitution itself. That is, it is the word of the constitution.
What Is Article 292 Of Indian Constitution?
Article 292 Debate Summary
Draft Article 268 (Article 292, Constitution of India 1950) was debated on 10 August 1949. This draft article provided that the Union may, as part of its executive powers, borrow and guarantee money against the revenue of India within the limits prescribed by law. , The Chairman of the Drafting Committee proposed a minor amendment to the draft article to replace the words ‘Revenue of India’ with ‘Consolidated Fund of India’.
One member expressed concern that during the operation of the draft article, the executive should not take full responsibility on itself and instead take up the matter before the Parliament. Some members believed that the union executive should not be given such extensive powers and that the Parliament should be given more powers in this matter.
The Chairman of the Drafting Committee assured that Parliament is empowered to make laws to limit the powers of the Central Executive to borrow money under this draft Article. Therefore, he was of the view that there is no need to further limit the powers of the union executive under this draft article. The minor amendment proposed by the Chairman of the Drafting Committee was accepted. The draft Article in its revised form was adopted on 10 August 1949.
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