INDIAN BUDGET.

Colonist, Volume LXII, Issue 15317, 4 March 1920, Page 5

INDIAN BUDGET.

(Reuters Telegrams.)

(Received March 3, 7.25 p.m.) DeShi, March 2.

The Finance Minister has presented the Budget. lie stated that the Afghan War and frontier operations cost £15,000,000, causing a deficit of £14,-1 500,000 instead of the anticipated surplus of £500,000. The revenue for the current year was £42,000,000, which would leave a surplus. No new taxation was proposed, but a loan was foreshadowed. In reviewing the past year the Minister referred to the improvement in freightage traffic facilities, and to the growth of exports and imports. He said there had been a remarkable growth in company promote ing. All these things indicated financial and industrial expansion. Dealing with the currency question, he said that until sterling regained its parity Avith 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 had to ibe continued. His definite belief, based on the estimated figures for the coming year, was that there would be no general set-back to the general prosperity, and that the revenue would continue to expand. It was hoped that the public would cordially support the proposed loan, in order that" the Government programme might be carried out. The Minister took a bright view of India's future. The proposed loan will be 15 crores of rupees/ (A crore is 10,000,000.)