INDIAN AFFAIRS

Rangitikei Advocate and Manawatu Argus, Volume XLV, Issue 12016, 4 March 1920, Page 4

INDIAN AFFAIRS

United Press Association—By Elec trie Telegraph-copyright. Delhi, March 2. The Financial Minister presented the Budget. He stated that the Afghan war and frontier operations had cost £15,000,000, cansing a deficit of £14,500,000. instead of an anticipated surplus of £500,000. He anticipated the revenue for the current year would be £42,000,000, which would leave a surplus. Nomew taxation was ; proposed, but a big loan was foreshadowed. Reviewing the past year, the ister referred to improvement in .reightage and traffic facilities, and the growth of exports and imports. There was a remarkable growth in company promoting, all indicating financial and industrial expansion. Dealing with tho currency question, he said that until the sterling 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 of the rupee while restrictions on the movement of precious metals continued. He believed there would be no general setback to general prosperity, and revenue would continue to expand. The proposed loan would be fifteen crores of rupees, which it was hoped the public would cordially support in order that the Government’s programme might be carried out. Tho Minister took a bright view of India’s future.