The restriction under Article 293 of the Constitution on State borrowing powers, though constitutionally valid, may hinder fiscal autonomy of States and disrupt cooperative federalism. Discuss in the light of recent developments. (Answer in 250 words)

Recently Kerala government filed case against Union government for permission to borrow imposed under Article 293 on state borrowing having issue of fiscal federalism. Article 293: 1) States need union government approval before borrowing in case any amount pending due on payable to central government 2) State Governments need cannot borrow from outside the India 3) Central government imposed limit of 3.5% of GDP on state borrowing