Page images
[merged small][ocr errors][ocr errors][merged small][merged small][merged small][graphic][merged small][merged small]
[ocr errors]






Discussion of the Financial Statement . . .

[merged small][ocr errors][ocr errors][ocr errors][ocr errors][ocr errors][ocr errors][ocr errors][ocr errors][ocr errors][merged small][merged small][ocr errors][merged small]
[merged small][ocr errors][merged small]

I beg to lay on the table the Financial Statement for 19054906, together with the usual figures relating to the Accounts of r903-1904, and the Revised Estimate for 1904190 . 52. Before presenting the figures, I may state that the good fortune which has attended the finances of the Government of India during the last six years has not failed us. It is true that in parts of Bombay and Madras there was some failure of the monsoon, and that in certain districts of Northern India the rabz' crop which had promised 'to be ma nificent has been seriously damaged by frost. But notwithstanding these local mis ortunes, which have our hearty sympathy and shall receive a full measure of relief, we expect that the year 1904-1905 will close with the large surplus of ,6 3,48 5, 500. For next year, we estimate that on the present basis of revenue and expenditure we should have had a surplus of ,6 3,398,800. We have, however, decided to make certain large remissions of taxation, and also to devote considerable sums of money to the improvement of various branches of the civil administration. These are estimated to absorb ,5 2,495,000 per annum. The effect of these measures, an account of which will be presented in its proper place, is to reduce the estimated surplus of 1905-1906 to £903,800.

. The figures for the three years, exhibited in their simplest form and excluding Capital, Debt, and Remittance transactions, are as follows :—

[ocr errors]

£ Revenue . - . . . . '. . é . 83,756, r 55 Expenditure charged against Revenue . . . . . 80,759,755

Surplus . 2,996,400

1904- I905

:6 Revenue . . . . . . . - . 84,699,100 Expenditure charged against Revenue . . . . . 81,213,600

Surplus . 3,485,500

Estimate). ‘

:5 Revenue . . . . . . . . . - 83,433,000 Expenditure charged against Revenue . . . . . 82,529,200

Surplus . 903,800

Accounts of 1903-1904.

This time last year, we estimated that the year 1903-1904 would close with a surplus of J63,711,200. The actual result has been better by £285,200. The revenue exceeded the estimate by J£688,355, and the expenditure increased by £403; 5 5. The receipts and charges of our Railways exceeded the estimate by £16,465 and £112,397, respectively, and those formerly shown under “Mint” (which represent chiefly the profits on coinage, and payments into the Gold Reserve _Fund) were larger by J£172,566 and J£168,485, respectively. In both cases the net variation was small. The same remark applies to the receipts and charges under “ Marine.” The receipts from Salt, Excise, Forests, and CustOms were better than the estimate by J£90,463, £54,596, £43,216, and £36,798, respectively. In the last case the import of cotton piece goods contributed materially to the improvement. An advance payment of interest by the Bombay Port Trust led to an increase under that head; while in

« PreviousContinue »