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of <h1>State Borrowing Rules Limit Financial Transactions and Require Central Government Consent for New Loans Under Specific Conditions</h1> State borrowing provisions establish limits and conditions for financial transactions. The executive power of a state allows borrowing within India using the state's Consolidated Fund, subject to legislative restrictions. The Government of India can provide loans and guarantees to states, with conditions determined by parliamentary laws. States cannot raise new loans if previous loans from the central government remain outstanding without obtaining prior consent. The central government retains discretion to impose conditions when granting such consent for state borrowing.
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