The Indian Review September 1932 A Monthly Periodical devoted to the discussion of all topics of Interest

The abnormal financial depression which India shares with the rest of the world the inelasticity of her revenues the inherent costliness of a modern system of administration the uncertainty hanging about the revival of trade and prosperity by the rise and stabilisation of world prices and the limitations imposed upon the inquiry by the terms of reference are not a little responsible for the che [...] - The main duty laid upon the Percy Comittee was to test the soundness of the classifiction of the sources of revenue into federal and provincial in the light of facts and figures to estimate the probable financial position of the federal and provincial governments under such allocation of revenue's and to recommend the adjustments necessary to secure the financial equilibrium of the feder [...] In the treatment of ceded territories the Committee have held the view that the net value itt the date of the cession should be adopted as the criterion in making the financial adjustment. [...] A long-standing grievance of the States will be removed by the recommendations of the Committee that the cession of jurisdiction over railway lines for administrative purposes should not be exploited for fiscal purposes and that in the case of civil stations situated in States the area of foreign jurisdiction should be confined to the Residency itself and the buildings under the Resident's contro [...] E. AT the desire of the Editor I am setting down for the benefit of laymen the significance of the judgment of the Full Bench of the Bombay High Court in regard to the Ordinances.