Under article 292 of the Constitution, the Union Government may give guarantees within such limits, if any, as may be fixed by Parliament by law. The statement
here shows the position, as on 31st March 2010, of guarantees given by the Union Government for (i) repayment of borrowings and payment of interest thereon,
(ii) repayment of share capital and payment of minimum dividend, (iii) payment against agreements for supplies of materials and equipment on credit basis, etc.,
on behalf of Government companies/corporations, Railways, Union Territories, State Governments, local bodies, joint stock companies, co-operative institutions
etc. These guarantees constitute a contingent liability on the Consolidated Fund of India.