Page:Indian Journal of Economics Volume 2.djvu/603

 EiYO1VOMIiY DE VELOPMEI practice of he dvelopmen of public deb are known and he problem only requires to be boldly faced, and he wel14ried methods of oher countries to be fearlessly applied wih perseverance and discrimination. Present debt o India The peanent public deb o! India a he 8ls o! March 1917 amounted to g282fl18,000, or over 42 ereres and was classified as shown in he following able :-- Railways - Irrigation works Other Debt 285,740,600 48,285,800 [,691,900 858,71,09,000 64,92,87,000 5,58,78,500 282,718,800 424,17,74,500' There was also local and municipal corporations of towns of India o he amoun rupees. of the indebtedness of Por Trusts he five grea port of several ereres of This is owed direcfiy o oher municipalities and the local the public. Most authorities in public but from India have no borrowed from he Provincial Governments. The Governmen of India deb is now almos entirely represented by capitl expenditure on railways and irrigation, as shown by he above figures. The "ordinary" deb, no so represented, is only  crores of rupees, more han a hird of which represents expenditure on works of he new capital a Delhi. I may be said ha he whole of he debts of he municipal corpo- rations snd he Por Trusts. are represented by works of various kinds actually carried ou. The total permanen public deb in British India, including he municipal and por rus loans, amounts o only abou Bs. '/ per head of he population; whils if we include he erling deb, converted a Bs.l to 74