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The Indian Constitution
@selfstudy.constitution
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Posted On: July 21st 2026, 12:00 am
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📜 Article 293 – Borrowing by States
Article 293 empowers States to borrow money within India on the security of their Consolidated Funds and to provide guarantees within limits prescribed by their Legislatures. It also authorizes the Union to grant loans or guarantees to States and requires a State to obtain the consent of the Central Government before raising further loans if it has outstanding loans or guarantees from the Union, ensuring fiscal discipline and financial stability.
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