Article 148G

It shall be the duty of the Auditor‑General and the Accountant‑General to inform the President of any proposed transaction by the Government which to their knowledge is likely to draw on the reserves of the Government which were not accumulated by the Government during its current term of office.

Where the President has been so informed under clause (1) of any such proposed transaction, the President, acting in his discretion, may disapprove the proposed transaction.

Where the President does not disapprove of any proposed transaction under clause (2) even though he is of the opinion that the proposed transaction is likely to draw on the reserves of the Government which were not accumulated by the Government during its current term of office, the President shall cause his decision and opinion to be published in the Gazette.