On Saturday last Sir Basil Blackett, the Finance Member of
Council, introduced his Budget into the Indian Assembly. It was a far more cheering measure than any. Indian Budget of recent years. The reforms and retrenchments which have been undertaken, chiefly on the recommendation of Lord Incheape's Committee, are now beginning to bear fruit, and a surplus of about three and a quarter erores of rupees, i.e., over £2,000,000, was declared. This is due partly to a decided increase in commercial prosperity and partly to financial reforms. The bulk of the surplus will be devoted to reducing the provincial contributions to the Indian Exchequer. Taxation will be left as it is. We cannot exaggerate the importance of maintaining this sound financial position if the Indian situation is to be improved. It has been said that all revolutions are really only the outward and visible signs of the breakdown of established Governments. And in nine eases out of ten Governments fail to perform their function because they have lost control of national finances.
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