INDIAN FINANCES
BUDGET PRESENTED.
REDUCTION IN TAXATION. SUBSTANTIAL SURPLUS ESTIMATED. BY CABLE —PRESS ASSOCIATION—COPYBIGHT. Received Mar. 2, 11.30 a.in. DELHI, Mar. 1. Sir Basil Blackett, finance member of the Government of India, in presenting the Budget, announced the entire abolition, of .‘the »cotton excise duty, involving a loss in revenue ot 175 lakhs of rupees. No new taxation is proposed, and a reduction of one and a half crores of rupees military expenditure will be effected. Sir Basil Blackett announced a new rupee loan of 22 crores of rupees, of which 20 crores will be devoted to renewals of bonds maturing next Septemper. The surplus for the coming year is estimated at 305 lakhs of rupees. [A crore is ten millions; a lakh one hundred thousand.]
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Hawera Star, Volume XLV, 2 March 1926, Page 5
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126INDIAN FINANCES Hawera Star, Volume XLV, 2 March 1926, Page 5
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