Article 273 of CoI : Article 273: Grants in lieu of export duty on jute and jute products.
CoI
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Explanation using Example
Example 1:
Scenario: The Government of India decides to levy an export duty on jute products for the financial year 2023-2024.
Application: According to Article 273 of the Constitution of India, the states of Assam, Bihar, Odisha, and West Bengal are entitled to receive grants-in-aid from the Consolidated Fund of India. This is in lieu of receiving a share of the net proceeds from the export duty on jute and jute products.
Example: The Government of India collects ₹100 crore as export duty on jute products in the financial year 2023-2024. Instead of distributing a share of this ₹100 crore directly to the states of Assam, Bihar, Odisha, and West Bengal, the central government will allocate a p...
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