INDIAN BUDGET.

Otago Witness, Issue 3443, 9 March 1920, Page 15

INDIAN BUDGET.

(By Gable.) FUTURE PROSPECTS BRIGHT. DELHI; March 2. The Financial Minister, in "presenting the Budget, stated that the Afghan war and the frontier operations had cost £15,000,000, causing a deficit of £14,500,000, instead of 'the anticipated surplus of £500,000. The revenue for the current year is £42,000,000, which will leave a surplus. No new taxation is proposed, but a loan is foreshadowed. Reviewing the past year, the Minister referred to the improvement in freightage, traffic facilities, and the growth of exports and imports. There was a remarkable growth in company promoting, which indicated financial and industrial expansion. Dealing with the currency question, the Minister said that until the sterling value of silver regained its parity with gold,India would be saddled with a fluctuating standard of value. It would be impossible to give any definite gold value to the rupee while the restrictions on the movement of precious metals continued indefinitely. Based on the figures for the coming year, his belief was that there would be a general setback to the general prosperity, and the revenue would continue to expand. The proposed loan was for 150,000,000 rupees, which it was hoped the public would cordially support in order that the Government programme might be carried out. The Minister took a bright .view of India's future.