Guarantee of loans

The Government may guarantee in such manner, as it may think fit, the payment of the principal and interest of any loan proposed to be raised by the Corporation or of either the principal or the interest: Provided that the Government shall, so long as may such guarantees are in force, lay before the State Legislature in every year during the budget session, a statement of the guarantees, if any, given during the current financial year of the State, and an upto date account of the total sums, if any, which have been paid out of State revenues by reason of any such guarantees or paid into State revenue towards repayment of any money so paid.