Constitution Section 292 — Borrowing by the Government of India

Part XII — FINANCE, PROPERTY, CONTRACTS AND SUITS — CHAPTER II.—BORROWING

Constitutional

Summary

The Union government has the authority to borrow money using the Consolidated Fund of India as security, but only within any limits that Parliament sets through law. It can also give financial guarantees, again only within any limits that Parliament may set.

Official Text

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.