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Past receipts: Pakistan still owes India Rs 300 crore

Pakistan is yet to clear a pre-partition debt of Rs 300 crore to India,which has been carrying forward year after year in its Budget account as a 'liability'.

Pakistan is yet to clear a pre-partition debt of Rs 300 crore to India,which has been carrying forward year after year in its Budget account as a “liability”.

The Budget books refer to this Rs 300 crore as “amount due from Pakistan on account of share of pre-partition debt.”

The amount was entered as a liability in the first Budget of independent India in 1950-51 and has been there ever since. But this a measly amount compared to the union government’s total liabilities that total Rs 34,95,452 crore and accounts for just 0.008 per cent of the total liabilities.

However,in 1950-51 this amount accounted for more than 10 per cent of India’s total liabilities of Rs 2,865.40 crore and nearly 10 times of India’s total external debt of Rs 32 crore.

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Surprisingly,New Delhi has not added interest to this amount since its entry in the books. However,India has cleared its share of the pre-partition debt of Rs 50 crore soon after independence in 1947.

First published on: 06-07-2009 at 18:33 IST
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