Part XII · CHAPTER III.—PROPERTY, CONTRACTS, RIGHTS, LIABILITIES,
Article 298 Power to carry on trade, etc.
In force
This article lets the governments do business. The Union and each State may carry on any trade or business. They may acquire and hold property for the purpose. The power serves public ends chosen by the government. It stands beside the ordinary market participants in the field.
- 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.
What it means
Plain words summary of the article above. Not legal advice.
This article lets the governments do business. The Union and each State may carry on any trade or business. They may acquire and hold property for the purpose. The power serves public ends chosen by the government. It stands beside the ordinary market participants in the field.