SIR UGHTRED KAY-SHUTTLEWORTH (Lancashire, Clitheroe)
asked the Under Secretary of State for India, If he can give any figures explaining the grounds on which it is anticipated that, in spite of the falling off in the railway receipts in India from the Budget Estimate of 1887–8, there is no cause for apprehension as to the profitable working of the lines?
§ THE UNDER SECRETARY OF STATE (Sir JOHN GORST) (Chatham)
The net traffic receipts from open railways in 1884–5 were Rx. 7,685,000. In 1888–9 they are at present estimated at Rx. 8,661,000, showing an improvement of Rx. 976,000. The capital outlay on open lines since 1884–5 is about 12 crores of rupees; but a portion of this has been expended on branches and extensions which have not yet come into operation. If, however, the whole of that outlay be charged with interest at 4 per cent, the sum would be Rx. 480,000. The receipts from open lines, therefore, after allow- 20 ing for the interest on the additional capital, show an improvement of Rx. 496,000.