10 37. (d) not nationalize economic enterprises; (e) not demonetize the currency legally in circulation. The Union : (a) is the ultimate owner of all lands and all natural resources above and below the ground, above and beneath the water and in the atmosphere in the Union; (b) shall enact necessary law to supervise extraction and utilization of Stateowned natural resources by economic forces; (c) shall permit citizens right of private property, right of inheritance, right of private initiative and patent in accord with the law. 38. (a) Every citizen shall have the right to elect and be elected in accord with the law. (b) Electorate concerned shall have the right to recall elected people’s representatives in accord with the provisions of this Constitution. 39. The Union shall enact necessary law to systematically form political parties for flourishing of a genuine, disciplined multi-party democratic system. 40. (a) If there arises a state of emergency characterized by inability to perform executive functions in accord with the provisions of the Constitution in a Region or a State or a Self-Administered Area, the President is empowered to exercise executive power in that Region, State or Self-Administered Area and, if necessary in doing so, the President is empowered to exercise