§ 51. Mr. Peter Freemanasked the Chancellor of the Exchequer to what extent the balance of sterling is still accumulating in India; and whether he will consider separating the wartime and current balances and make the latter available for purchase of supplies from Britain as soon as goods can be exported.
§ Mr. DaltonThe Reserve Bank of India's sterling holdings have increased between 1st February and 29th March, 1946, by £35 million, of which £11½ million is attributable to a final adjustment for the year 1944–45. Sterling balances in Indian hands are available for purchases of supplies from Britain; and there is therefore no need to separate them for the purpose suggested.