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Source: The post is based on the article “Chhattisgarh gets Centre’s nod for World Bank funded school project” published in The Hindu on 7th July 2022.
What is the News?
The Chhattisgarh Government has received an in-principle nod from the Centre to go ahead with a $300 million school education project the State is negotiating with the World Bank.
Why do states need the centre’s permission while borrowing?
Article 293(3) of the Constitution states that “A State may not without the consent of the Government of India raise any loan if there is still outstanding any part of a loan which has been made to the State by the Government of India or by its predecessor Government or in respect of which guarantee has been given by the Government of India or its predecessor Government”.
Article 293(4) says that the “consent under clause (3) may be granted subject to such conditions as the Government of India may think fit to impose”.
World Bank and Indian School Education System
The World Bank has been associated with India’s school education system since 1994.
One of its more recent projects, inked in 2021 is the $500 million Strengthening Teaching-Learning and Results for States Program(STARS) to improve the quality and governance of school education in six Indian States.
