cover image: March 14th  1868. Council of the Governor General of India  Assembled at Calcutta  for the Purpose of Making Laws and Regulations. Financial Statement  1868-69 by the Right Honorable W.N. Massey

Premium

20.500.12592/06j17d

March 14th 1868. Council of the Governor General of India Assembled at Calcutta for the Purpose of Making Laws and Regulations. Financial Statement 1868-69 by the Right Honorable W.N. Massey

1868

I stated on that occasion that in consequence of the new Budget system it was necessary to pass through the balance sheet of account certain balances arising in the adjustment of the old books and the transfer of the management of the Public Debt to the Bank of Bengal. [...] We therefore asked the Secretary of State to consider the subject and to sanction a proposal which we made that the grant for Public Works should be divided into two classes : the one ordinary the other extraordinary—the ordinary grant being as heretofore charged upon the income of the year the extraordinary portion of the grant being also a charge upon the income of the year when we had a sur [...] I have now to state to you the result of what is called the Regular Estimate that is the result of the actual disbursements of eight months with an estimate of the disbursements of the remaining four. [...] ESTI 70 That estimate has unfortunately failed to the extent of 1867 2615 -000 and that failure is attributable very much to the decay of the Cotton trade but it is much more attribtable to the disasters which have happened on the Railway at Bombay the break-down of the Bhore Gilaut Incline and the failure of almost all the bridges and great works upon the Great Indian Peninsula line of Rai [...] Well Sir the Budget of the Chamber of Commerce is completed by a Succession Tax which they conceive would solve in a satisfactory manner the question as to the best mode of subjecting the wealthier classes to a just assessment to the burdens of the State.
government politics public policy
Pages
41
Published in
India
SARF Document ID
sarf.141548
Segment Pages Author Actions
Frontmatter
i-i W.N. Massey view
Financial Statement
1-39 W.N. Massey view
Statement of Estimated Cash Balances in the Indian Treasuries on the 31st March 1869
40-40 unknown view