14 MARCH 1925, Page 32

THE. INDIAN BUDGE'.!.

Thanks in no small degree to the insistence during the last few years • by Sir Basil Blackett of the obiervance of sound ,principles. in Indian finance, the Budget which -he presented on Feb. 28th is a fairly good one revealing, indeed, a moderate .Eurphfs. The Financial. Administratioiy, . therefore, is able to make some further progress in relieving the provinces of part of their contribution to the Central Bank, while borrowings for capital purposes arc not only to be liniited to twelve crores of rupees, but the whole amount is to be obtained in India,. Sir Basil Blackett in adhering to his conservative 'views with regard to stabilizing of the exchange and the question is apparently not to be cc nsidered at the moment

but to -await the final decision by Currency Cenmittee of the ration to be determined in the light of further experience. Therefore, the rate adopted as the average for the new Budget is the previous one of ls. 6d.