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
