REDUCTION OPPOSED
INDIA’S STERLING FUNDS BRITISH CONTROL ASSAILED (10 a.m.) BOMBAY, Oct. 24. India would not agree to any scaling down of sterling balances owed to her by Britain, said Mr. A. D. Shroff, head of the great industrial combine of Tata. The balances had risen from the outbreak of the war from £54,000,000 to £1,200,000,000 sterling. “The credits we hold constitute the only form of exchange available to India. England’s war board policy of diverting. all dollars to the Empire pool has taken from us the currency which we might have used for probably needed purchases abroad.” Mr. Shroff denied that India's sterling credits had greatly increased through wartime profiteering. “There is no more sordid chapter than the fiscal administration of India under British political domination,” he added.
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Gisborne Herald, Volume LXXII, Issue 21853, 25 October 1945, Page 5
Word Count
129REDUCTION OPPOSED Gisborne Herald, Volume LXXII, Issue 21853, 25 October 1945, Page 5
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