Power to carry on trade, etc
The executive power of the Union and of each State shall extend to the carrying on of any trade or business and to the acquisition, holding and disposal of property and the making of contracts for any purpose: Provided that — (a) the said executive power of the Union shall, in so far as such trade or business or such purpose is not one with respect to which Parliament may make laws, be subject in each State to legislation by the State; and (b) the said executive power of each State shall, in so far as such trade or business or such purpose is not one with respect to which the State Legislature may make laws, be subject to legislation by Parliament.
This is an informational reference compiled from the public-domain text of the Constitution of India. For the authoritative version and latest amendments, refer to the official text published by the Government of India. For help with a real-life situation, see the Citizen Rights Guide.
Frequently Asked Questions
What does Article 298 of the Indian Constitution say?
The executive power of the Union and of each State shall extend to the carrying on of any trade or business and to the acquisition, holding and disposal of property and the making of contracts for any purpose: Provided that — (a) the said executive power of the Union shall, in so far as such trade or business or such…
Which Part of the Constitution contains Article 298?
Article 298 falls under Part XII — Finance, Property, Contracts and Suits — of the Constitution of India.