HC Deb 11 May 1931 vol 252 cc799-800
4. Mr. REMER (for Mr. HANNON)

asked the Secretary of State for India the aggregate amount of the loans raised in this country at the instance of the Government of India as at the latest appropriate date; if all those issues have been devoted to the purposes of development in India without any restriction or condition; and if any proposals for further loans are now pending?


The total amount of the debt incurred on behalf of the Government of India in this country and outstanding on the 31st March last, was £387,900,000. Of this amount, £265,500,000 has been allocated to productive development in India—mainly railways—while the balance represents debt incurred for the general purposes of the Government of India. I must decline to furnish any information regarding the last part of the question.


Do the figures given by the right hon. Gentleman represent the nominal value, or the present market value?


I imagine that it is the nominal value.

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