IN INDIA.

Feilding Star, Volume XII, Issue 2886, 4 March 1916, Page 2

IN INDIA.

HUD GOT SHOWS .C_,OOO.OOl) DEFICIT. WAR TAXATION PROPOSALS' LOYALTY TO THE EMPIRE.

Delhi. March 2.

The Minister for Finance has delivered the Budget. It is estimated that the year closed with a deficit of £■"2,000,000. -V striking feature of the year was I lie increase of £2,250.----000 in railway revenue, which will partly counter-balance the military expenditure of £1 ,500.000. It i.s expected that the revenue in the. coining year will be £52,000,000 and the expenditure £154,500.000. but this will be converted into a surplus of a million by new taxation, which will include sugar, tea, grain, raw jute, spirits, and a long list of manufactured and other articles, a number of which are now on the free list. While taxation will be increased, cotton duties will not be touched until after the war, when they will be considered in connection with a general fiscal policy for the Empire. Forward contracts of tea and jute made before March 1 will also be exempt from the new duties. The Budget has provided for an increase in the income tax. Tho .estimated cost to India of the expeditionary force lo March 31 will be £11,000,000, and for the next year U5.000,000. India has also, lent assistance in furnishing supplies, making munitions, and iv other directions, amounting to £.10,000.000 in the lirst year ami to £1.8,000,000 iv the coming year, besides donations to various funds of a million. The policy lor the coining year will be in the direction of keeping down expenditure and strengthening the financial position. Tbe finance-Minister is convinced of India's determination 1o support the honour, dignity, ami. prestige of the Empire regardless of sacrifice. He said that he bad the full acquiescence of tbe Council ami the country iv making' Ibis statement.