Course Name: In-depth study of Centre State Relations Lesson Name: Union State financial relation IIl Presented by Bhavin Sangoi
About me B.A in Political Science & Psychology Appeared in UPSC CSE Mains ec Indian Polity, International Relations, economics &mental Ability since 5 years Experience of teaching for various competitive exams such as NTSE, CET & UPSC Like, Rate and Review this course Follow me on: https://Unacademy.in/user/BhavinSangoi
General Grants CAccord ng to article 275 (1), Parliament may by law provide grants-in-aidto the States who are in the need of assistance. The sum would be charged to the Consolidated fund of India and different sum may be fixed for different States The sum are fixed on the recommendation of Finance commission
Specific Grants According to article 275 (2), grants-in-aid shall be paid out of the Consolidated fund of India to meet the cost of those development schemes undertaken by the State with the approval of Government of India for promoting the welfare of Schedule Tribes or development of Schedule Area in the State.
Discretionary Grants Under Article 282, the Union or a State can make any grants for any public purpose, not withstanding that the purpose is not one with respect to which Parliament or the Legislature of a State, may make laws. The grants under Article 275 which can be dispensed only on the recommendations of the Finance Commission and are charged, grants under Article 282 can be made with no such restriction and are voted
Public Borrowing by Union According to article 292, the executive power of the Union extends to borrowing or giving guarantee 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
Public Borrowing by State According to article 293 a State can borrow within the territory of India or give guarantee upon the security of the Consolidated Fund of the State. However, a State may not raise any loan, without the permission of Government of India, if any part of the loan extended by the Government of India remains outstanding
BA Political Science and Psychology, Mumbai University. Teaching Polity, Economics and international relations for 7 years.