226 DR. BABASAHEB AMBEDKAR : WRITINGS AND SPEECHES
258 THE GAZETTE OF INDIA EXTRAORDINARY, FEB. 26,1948
(b) the principles which should govern the grants-in-aid to the States out of the revenues of India;
(c) the continuance or modification of the terms of any agreement entered into by the 5 Union with any State for the time being specified in Part III of the First Schedule as respects the levy, collection and distri- bution of any tax or duty leviable by the
10 Government of India in such State; and
(d) any other matter referred to the Commission by the President in the interest of sound finance.
(4) The Commission shall determine their proce- dure and shall have such powers in the performance 15 of their functions as Parliament may by law confer on them.
Recommend- 261. The President shall cause every recommenda- ations of tion made by the Finance Commission under the fore- the Finance going provisions of this Chapter together with an 20 Commission. explanatory memorandum as to the action taken thereon to be laid before Parliament.
Miscellaneous Financial Provisions
Expenditure 262. The Union or a State may make any grants defrayable for any public purpose, notwithstanding that the 25 out of the purpose is not one with respect to which Parliament or the revenues of Legislature of the State, as the case may be, India. may make laws.
Provisions as 263. (1) Rules may be made by the President and to the by the Governor of a State for the purpose of securing 30 custody of that all moneys received on account of the revenues public of India or of the State, as the case may be, shall, with moneys. such exceptions, if any, as may be specified in the rules, be paid into the public accounts of India or of the State, and the rules so made may prescribe, 35 or authorise some person to prescribe, the procedure to be followed in respect of the payment of moneys into the said account, the withdrawal of moneys thereform, the custody of moneys therein and any other matter connected with or ancillary to the 40 matters aforesaid.