What is the significance of Article 294 in the Indian Constitution?
Article 294 of the Indian Constitution deals with the succession to property, assets, rights, liabilities, and obligations in certain cases. It states that, as from the commencement of the Constitution, all property and assets vested in His Majesty for the purposes of the Government of the Dominion of India and each Governor’s Province shall vest respectively in the Union and the corresponding State. It also states that all rights, liabilities, and obligations of the Government of the Dominion of India and of each Governor's Province shall be the rights, liabilities, and obligations respectively of the Government of India and the Government of each corresponding State. This article ensures a smooth transfer of assets and liabilities from the previous government structures to the newly established Union and State governments under the Constitution.