To the Editor of the "Norra-Cuina Datty News."
Sir,—In your this morning's issue, I find a telegram sent by Reuter from London, giving us faint idea of the recent Indian Budget. But the causes attributed by Reuter in this summary are rather misleading. As I have recently come from Bombay, I can throw some more light on the big deficit in the finances of the coun-ivy. The chief causes of the record deficit of Rs.34 crores (say £23,000,- 000) are due to the heavy military expenditure, and the low sterling exchange rate. In the previous Budget, the Finance Member, Sir William Bailey (and not Mailey) calculated his estimates on the basis of 1s. 8d. exchange rate. At that time the students of matters
Text read from the printed page and cleaned; old type leaves the occasional error.