HL Deb 22 November 1961 vol 235 cc941-2WA
LORD BARNBY

asked Her Majesty's Government:

What is the total outstanding indebtedness of India to the United Kingdom; what is the range of maturities; what proportion represents loans extended or renewed, for extended or renewed periods before

Date Amount Repayment period Amounts drawn at 21st November, 1961
30th June, 1958 … £15m. 1st July, 1966 £15m. Durgapur Steelworks.
1st July, 1969
20th December, 1958 … £28.5m. 1st July, 1964 £28.5m.
1st January, 1979
23rd June, 1959 … £3m. 30th June, 1964 £2.8m. Assam oil pipeline.
31st December, 1966
25th November, 1959 … £19m. 31st May, 1965 £19m.
30th November, 1979
16th August, 1960 … £10m. 31st May, 1966 £10m.
30th November, 1980
23rd December, 1960 … £5m. 30th November, 1966 £5m.
31st May, 1981
1st May, 1961 … £10m. 31st May, 1966 £10m.
30th November, 1985
1st May, 1961 … £30m. 31st May, 1968 £189,000 Projects and general capital expenditure.
30th May, 1986
10th November, 1961 … £5m. 31st May, 1968 nil*
31st May, 1986
* Arrangements have been made for the whole £5m. to be withdrawn on Thursday, 23rd November, 1961.

Except where otherwise stated, the loans have been available to finance a wide range of imports.

None of these loans has been extended or renewed.

Comprehensive information about India's outstanding public indebtedness is provided in pp. 91–95 of the Government of India's publication Explanatory Memorandum on the Budget of the Central Government. The ratio that the service of this indebtedness bears to

maturity; what is the total of India's outstanding public indebtedness, and what ratio does its service represent to the total current budget.

THE PARLIAMENTARY UNDERSECRETARY OF STATE FOR COMMONWEALTH RELATIONS (THE DUKE OF DEVONSHIRE)

At the 21st November, 1961, the outstanding loan obligations of the Indian Government to Her Majesty's Government were as shown in the following table:—

the total current budget is approximately 8 per cent., and is shown in the Summary of Final Estimates given at the back of the Government of India's publication Budget, 1961–62 Finance Minister's Speech (Part B).

I have arranged for copies of both these documents to be available in the Library.

House adjourned at twenty-one minutes before eight o'clock.