Since the lust China Mail left the Indian Budget for 1903-4 has been made public, Tt contains two points. of special Interest. A reduction in the Salt Tax of eight annas and the exemption from income tax of all incomes whick do not oxeyed Rs. 1,000 per annum. The first of these concessions will be joyfully welcomed by the poorer classes who have had to reduei their consumption considerably on account ofthe high price ut wilt. ud iis hoped that a part of the loss in revenue will be made good by the increase in the consumption ich is sure to follow a full in the retail prices, The ryots will now be able to alford to give their cattle salt, an it will also be more freely used in dyes and other manufactures. The other cone sion is also very welcome. Persons whose incomes aggregate less than Rs. 1,000 annually can ill afford to spare even a very small sum, and many. widows, pensioners, and petty clerks will benefit by the remission.
The Best Answer for Croakers.
These are some of the concessions which the Viceroy foretold in his Durbar! Speech at Delhi on ist January and, though there are of course those who are not satisfied, it must be admitted that the Government have—shown both generosity and discretion in this matter. The Viceroy's Budget speech will rank high amongst his many brilliant) speeches since his arrival in this country It must be remembered that this is the first serious reduction in taxation that has been made in India for 20 years. Ihe Indian Budget figures for the last 3 years are without doubt a splendid answer to Messrs Digby & Dutt, and the school who refuse to believe in India's prosperity but insist that the country is gradually being drained of its wealth and has nothing but. ruin staring it in the face in the near' future. Notwithstanding two success famines, the last of great severity, very little difficulty has been experienced in collecting the revenue and a comparatively infinitesimal sum only had to be entirely foregone. A sum of £1,32,00I0, arrears! of land revenue, hes been wiped off, and} now the.overnment of India finds itself, in a position to sacrifice, annually £1,400,000 of revenue by the reduction of taxes, This la in addition to the enormous condoned on account of the indebtedness of nati states incurred during the famine.
Text read from the printed page and cleaned; old type leaves the occasional error.