§ MR. ARTHUR O'CONNOR (Donegal, E.)
I beg to ask the Secretary of State for India what has been the amount of charge on Indian Revenues over the receipts from railway working on State railways and on guaranteed railways in the last 10 years?
The HON. MEMBER
further asked the Secretary of State for India (1) what was the original estimate of loss on the working of the Indian railway system for last year, and what is the amount of the revised estimate; (2) what is the amount of capital required for carrying out the programme of railway extension in India during each of the three years 1897,1898, and 1899; and what will be the estimated amount of interest payable thereupon during each year of the period of construction; and (3) what arc the several dates at which the contracts with the Guaranteed Indian Railway Companies, now involving loss to the State, can be terminated or modified?
§ THE SECRETARY OF STATE FOR INDIA (Lord GEORGE HAMILTON,) Middlesex, Ealing
The State and Guaranteed Railways of India have been worked, during the ten years 1887–97, at an average profit of 5¼ per cent.; but, owing to the fall in exchange, a total net loss of Rx.7,781,914 on the State and Rx.8,679,557 on the guaranteed lines has accrued within that period. The net 645 loss in 1896–97 was estimated at Rx.2,274,300; the revised estimate was Rx.2,810,200, but, according to the latest information in my possession, it is likely to be Rx.2,665,800. The amount of capital expenditure sanctioned for each of the three years 1896–97, 1897–98, and 1898–99 is Rx.10,174,700, Rx.10,130,000, and Rx.9,360,000 respectively; and the amount payable by way of interest in each of those years may be estimated at Rx.153,000, Rx.457,000, and Rx.750,000, against which must be set the profits to be received from such portions of the new lines as may be opened within three years. The only two contracts with guaranteed companies, which in 1895–96 involved a net loss to the State, are those with the Great Indian Peninsula and the Madras Railway Companies. They terminate on June 30, 1900, and December 31, 1907, respectively.