In the context of taking a financial loan from abroad, the States in India:
States cannot borrow directly from abroad. Article 293 confines a State's borrowing power to borrowing within the territory of India. External borrowing by the Union and the…
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In the context of taking a financial loan from abroad, the States in India:
Answer and explanation
Correct answer D
States cannot borrow directly from abroad. Article 293 confines a State's borrowing power to borrowing within the territory of India. External borrowing by the Union and the subsequent transfer of funds to a State is a different arrangement.
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Madhya Pradesh SET (MP SET)