INDIAN FINANCE.

Star (Christchurch), Issue 19889, 4 March 1920, Page 3

INDIAN FINANCE.

THE BUDGET. By Telegraph—Press Association— Copyright Iteuler’a Telegrams. (Received March 3, 7.15 p.m.) ' DELHI, March 2. The Financial Minister presented tlio Budget. Ho stated that the Afghan war and the frontier operations had cost fifteen million, causing a deficit of fourteen and a half million, instead of tho anticipated surplus of half a million. He anticipated a revenue for tho current .year of forty-two million,' which would leave a surplus. No new taxation was proposed, but a loan was foreshadowed. Reviewing the past year the Minister referred to tho, improvement in freightage and traffic facilities, and the growth of exports and imports. I here had been a remarkable'growth in company promoting, all indicating financial and industrial expansion. Dealing with the currency question ho said that until the pound 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 to the rupee, while restrictions on the move* meat of precious metals were continued. He definitely based on the figures for tile coming year the belief that there was no general setback to general prospentj , and the revenue would continue to expand. The proposed loan would bo fifteen million crorcs of rupees, which it was hoped the public would cordially support, in order that the Government programme might be carried out. The Munster took a bright view of India’s future.