20. Sir NAIRNE STEWART SANDEMANasked the Secretary of State for India whether, in view of the recent 1699 large sales of Indian currency, he will take steps to control such operations which have the effect of intensifying the financial and economic depression of India?
§ Mr. BENNI would refer the hon. Member to the statement made by the Prime Minister on 26th June. This, by contributing to the restoration of confidence in Indian credit, should help towards the alleviation of the economic depression from which India, like many other countries, is suffering at the present time owing to world causes.
Sir N. STEWART SANDEMANIs it not the case that the present position as regards the need for help has been caused by the sale of currency?
§ Mr. BENNPerhaps the hon. Baronet would put down a more specific question. My advisers and I were not quite clear as to what he is driving at in the question on the Paper.
§ Mr. ARTHUR MICHAEL SAMUELIs not the right hon. Gentleman aware that one of the reasons for this attack on the gold value of the rupee is in order to make it more difficult for Indians to buy Lancashire cotton goods?