[298. 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.]
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1. Subs. by the Constitution (Fortieth Amendment) Act, 1976, s. 2 (w.e.f. 27-5-1976).
2. Subs. by the Constitution (Seventh Amendment) Act, 1956, s. 20 (w.e.f. 1-11-1956).
170 THE CONSTITUTION OF INDIA
(Part XII.—Finance, Property, Contracts and Suits)
