Section 47A of The Government of National Capital Territory of Delhi Act, 1991 in hindi
Borrowing upon the security of the Consolidated Fund of the Capital.
1 [47A. Borrowing upon the security of the Consolidated Fund of the Capital.—(1) The executive power of the Union extends to borrowing upon the security of the Consolidated Fund of the Capital, within such limits, if any, as may from time to time be fixed by Parliament by law and to the giving of guarantee within such limits, if any, as may be so fixed: Provided that the powers exercisable by the Government of India under this sub-section shall also be exercisable by the Lieutenant Governor subject to such conditions, if any, as the Government of India may think fit to impose.
- (2)Any sums required for the purpose of invoking a guarantee shall be charged on the Consolidated Fund of the Capital.
Summary
- The executive power of the Central Government (the Union) includes the authority to borrow money using Delhi's Consolidated Fund as security.
- This borrowing power must stay within any limits that are set from time to time by Parliament through law.
- The Central Government can also give financial guarantees on behalf of Delhi, which must also fit within limits set by Parliament.
- The Lieutenant Governor of Delhi can also exercise these borrowing and guarantee powers, but must follow any conditions that the Government of India decides to impose.
- If a financial guarantee is triggered (invoked) and requires a payout, the money needed to pay for it is charged directly on (spent from) the Consolidated Fund of the Capital.
Practical examples
FAQ
1. Who has the ultimate power to set borrowing limits under Section 47A?
Parliament of India holds the power to fix the borrowing and guarantee limits by law from time to time.
2. Can the Lieutenant Governor of Delhi borrow money on the security of Delhi's fund?
Yes. The powers of the Government of India to borrow or give guarantees can also be exercised by the Lieutenant Governor, but they must follow any conditions set by the Government of India.
3. What happens if a guarantee given under this section is invoked?
Any money required to fulfill the invoked guarantee is charged on the Consolidated Fund of the Capital, meaning it is treated as an obligatory expense that must be paid.
Test yourself
Q1.Under Section 47A of The Government of National Capital Territory of Delhi Act, 1991, whose executive power extends to borrowing upon the security of the Consolidated Fund of the Capital?
Q2.Under Section 47A of The Government of National Capital Territory of Delhi Act, 1991, who is responsible for fixing the limits on borrowing and guarantees?
Q3.Under Section 47A of The Government of National Capital Territory of Delhi Act, 1991, how can the Lieutenant Governor of Delhi borrow money on the security of the Consolidated Fund?
Q4.Under Section 47A of The Government of National Capital Territory of Delhi Act, 1991, how does the borrowing power of the Union relate to the Consolidated Fund of the Capital established under Section 46?