I welcome this opportunity of meeting all of you, friends, connected with the Indian press

madugundurukminiStarred Page By madugundurukmini, 6th Jun 2013 | Follow this author | RSS Feed
Posted in Wikinut>Guides>Science>Sociology

It seems to me that in considering any budgetary proposals, we have four tasks to carry out. First, we have to asses the financial strength of the country as revealed by the budget figures, secondly we have to examine the estimate of revenue, thirdly we have to consider whether the estimates are reasonable and finally we have to examine the taxation proposal.

The revenue position and the borrowing position.

I shall being with a brief reference to the financial strength of the country as disclosed by the budget figures. Here we have to take into account two main factors, the revenue position and the borrowing position.
Last year there was roughly an equivalent deficit and the finance member then refrained from embarking on a policy of fresh taxation in the hope that all the items of expenditure must diminish and that the deficit would be wiped off by the beginning of the following year.

I do not propose to discuss this in detail.

It is very difficult to speak with authority as to what degree of risk the finance member could take in this matter. Our view is that he was attached too much significance to a deficit of this order and that this year, as last year, it would have been wise if he had adopted the procedure of holding off fresh taxation. The second feature in the financial strength of the country is the international borrowing position. I do not propose to discuss this in detail.

On your society are represented a large number.

I will merely point out that the internal debt today stands at about twice what it was at the beginning of the war while the revenues have risen roughly three times. It does not seem to us either in comparison with other countries that three is a great cause for alarm about the present debt position provided government maintain the condition under which productive activity will continue to be possible in this country. Given reasonable condition for productive activity, there is no need to be worried about any internal debt of the order with which we are faced at present.
I welcome this opportunity of meeting all of you, friends, connected with the Indian press, in such an intimate matter. On your society are represented a large number.

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Comments

author avatar cnwriter..carolina
6th Jun 2013 (#)

am not of that country but it is most interesting to ready your pages...thank you

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author avatar philpalm
8th Jun 2013 (#)

Almost any war is not cheap (The Kuwait/Iran war was subsidized by Kuwait and the United States waged that war on the cheap)

I suppose India now knows that wars is not inexpensive and will hesitate to wage another war.

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