How does Article 303 limit the legislative powers of both the Union and State governments with regard to trade and commerce?
Article 303 limits the legislative powers of both the Union and State governments with regard to trade and commerce by prohibiting them from making any law that gives preference or makes a discrimination between one State and another based on an entry in the Seventh Schedule related to trade and commerce. However, this limitation does not apply if a law is declared necessary for dealing with a situation arising from a scarcity of goods in any part of India.