The Eastern Economist March 8 1946

Easily the most important criterion of a transition budget is how far it lu Thr and smoothens the way to reconversion of industry and reconstruction of the economy of the country so as to subserve its essential purpose of enhancing the material welfare of the people. [...] It is one of the major defects of the budget that the financial provision essential for the implementation of the economic policy of the planning department is conspicuous by its absence. [...] In the first place the public has a right to know the extent Of accounting staff which will be saved; whther having regard to the magnitude of the sums expended in the past the necessary staff could not have teen trained which would also prove useful for the future and whether the gain in economy due to proper accounting and the improved confidence in the rectitude and integrity of public s [...] Thus on acount of defence the expenditure during the current year has not fallen very far short of the budget.figure in spite of the fact the war in Europe ended early in the financial year while the war against Japan had ended by August. [...] With such a monetary and financial background what are the prospects in the coming year and what should be the character and scale of Government expenditure if it is to be adquate to maintain the monetary equilibrium of the economy and at the same time usher in the period of economic reconstruction?