INDIA'S BUDGET

Dominion, Volume 9, Issue 2711, 4 March 1916, Page 8

INDIA'S BUDGET

INCREASED TAXATION AND WAR. COSTS By Telegraph—Press Association—Copyright (Rec. March 3, 6.-10 p.m.) Delhi, Maroh 2. The Minister ■of Finance has delivered Iris Budget. It is estimated that the year will close with a deficit of two millions. A striking feature of the year was an increase of 2£ millions-, in tho railway revenue, partly counterbalancing the military expenditure of U. millions. It is expected that tlie revenue for the coming year will be £152,000,000, and the expenditure £154,500,000, but this win he con/erted into a surplus of a million by the new taxation, whioh includes imposts on sugar, tea, grain, raw, jute, spirits, and a long list of manufactured and other articles, and a number now on the free list, while taxation has been increased. Cotton duties will not be touched until after tlie war, when they will be considered in connection with the general fiscal policy for Hie Empire. Forward contracts in tea and jute made before March 1 will be fxempted from the now duties. The Budget has provided for an increase of the income tax. It is estimated that the cost to India of the Ex|>editionary Forces to Marcli 31 will be £11.000,000, and for the next year £8,000,000. India has also lent assistance in furnishing supplies and making l munitions, and in other directions to tho amount of ten millions in the first year and 18 millions in the past year, and it is estimated that it will'total twenty millions in the coming year, besides tho donation of funds of ■■millions. The policy of the coming year will bo tho keeping down of expenditure, the strengthening of the financial position, and the Minister is convinced that India's determination to support the honour and dignity of the Empire and its prestige regardless of the gacrifico lmd tho full acquiescence of tho Council and country.