§ 96. Mr. T. Reidasked the Chancellor of the Exchequer what is the present amount of Indian sterling balances; and, in view of the probable postponement of Anglo-Indian discussions about them, what arrangements are made about India drawing on these balances in the immediate future.
§ The Financial Secretary to the Treasury (Mr. Glenvil Hall)The most recent published figures of the Reserve Bank of India 1772 show sterling holdings of £1,178.4 million. An official delegation is arriving in this country today for discussions about India's sterling balances. The present pre-occupation of Ministers in India in connection with the transfer of power has prevented the opening of formal negotiations. The discussions about to take place are designed to make interim arrangements for the period immediately following 15th July.
§ Mr. ScollanWhat monetary contribution has India made towards the cost of the war?
§ Mr. Glenvil HallSurely that does not arise on this Question.