Delhi. March 3.
Introducing the first budget under the new Indian réyime, Mr. Bailey, the Minister of Finance, announced heavy new taxation to meet the deficit of 12 crores of rupees in the present financial year and 18 crores in the next. The ad valorem duty would be increased from 7} to 11 per cent.. and would include cotton goods. There would be a 20 per cent. tax on luxuries and an increase of from 10 to 15 per cent. on foreign sugar. There would also be increased taxes on tobacco.
Mr. Bailey foreshadowed the appointment of a fiscal commission to examine the tariff policy of the Indian Government, including the question of Imperial Preference.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.