• Short Summary

    INDIA WILL SPEND 450 MILLION RUPEES (25 MILLION STERLING) MORE ON DEFENCE THIS YEAR, FINANCE MINISTER MORARJI DESAI TOLD PARLIAMENT IN NEW DELHI YESTERDAY.

  • Description

    INDIA WILL SPEND 450 MILLION RUPEES (25 MILLION STERLING) MORE ON DEFENCE THIS YEAR, FINANCE MINISTER MORARJI DESAI TOLD PARLIAMENT IN NEW DELHI YESTERDAY. HE ALSO ANNOUNCED STRINGENT PENALTIES FOR TAX AVOIDANCE.

    PRESENTING HIS BUDGET, MR. DESAI SAID INDIA WOULD SPEND A TOTAL OF 10,000 MILLION RUPEES (560 MILLION STERLING) ON DEFENCE IN THE COMING YEAR.

    HE ALSO ANNOUNCED THAT THE GOVERNMENT WOULD BE SETTING ASIDE A SUM OF 1,400 MILLION RUPEES (77 MILLION STERLING) TO BUILD UP A BUFFER STOCK OF GRAIN FOR FOOD.

    TAX EVASION, HE SAID, WOULD MEET STIFF NEW PENALTIES, WITH FINES AMOUNTING TO A MINIMUM OF 100 PERCENT AND A MAXIMUM OF 200 PERCENT OF THE VALUE OF CONCEALED WEALTH.

    MR. DESAI SAID THE COMING YEAR COULD BE ONE OF OPTIMISM AND A YEAR OF REVIVAL, BUT WITH AN EXPECTED DEFICIT ON THE CURRENT YEAR OF 300 MILLION RUPEES (16 MILLION STERLING) THE FINANCE MINISTER ALSO ANNOUNCED TOUGH TO CLOSE THE GAP.

  • Tags

  • Data

    Film ID:
    VLVAE0Y715KJELC8NNX96SQTARCTO
    Media URN:
    VLVAE0Y715KJELC8NNX96SQTARCTO
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    01/03/1968
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:11:00
    Time in/Out:
    /
    Canister:
    N/A

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