1. Do the provisions embodied in Art.292 and 293 of the Constitution debar the Central and the State Governments from borrowing any money beyond the amount standing to their credit in the Consolidated Fund? This is the short question that arises for consideration in this petition. A few facts as relevant for the decision of this case may be noticed.

2. The petitioner is the President of Nishabdha Bhooripaksham. When translated, the organization means - "the silent majority." It was started as an association of public-spirited persons. It is now a political party. The petitioner himself is an assessee. He complains that the Union of India and the State Government of Kerala are arbitrarily borrowing money in violation of the "letter and spirit of Art.14, 292, 293 and 39(b) of the Constitution" The State Government is throwing away "its precious largesse in gross violation of Art.14 in the form of retention of excess employees ...." As a result, the total liabilities of the State Government during the five years from 1996-97 to 2000-01 have "grown by 108%". According to the report submitted by the Comptroller and Auditor General only 10% of borrowings was available for inve