276 DR. BABASAHEB AMBEDKAR : WRITINGS AND SPEECHES
Bengal … … 19 ths
90
United Provinces … … 18 ths
90
Punjab … … 9 ths
90
6 ½ Burma … … ths
90
Central Provinces and Berar 5 ths
90
2 ½ Assam … … ths
90
(19) In cases of emergency the Local Government of any
Province may be required by the Governor-General in
Council, with the sanction of the Secretary of State, to
pay to the Governor-General in Council a contribution
for any financial year in excess of the amount required
by the preceding rules in the case of that year.
Two more matters had to be settled in order to make the separation between Provincial and Central Finance as complete as possible. Both were connected with capital transactions. One was the question of the Provincial Loan Account. This Account represented the fund from which a Provincial Government advanced agricultural loans, loans to indebted landholders, to municipalities and other local bodies, etc. The capital was provided by the Government of India as required and was returned to it as it was repaid. The province paid the Government of India interest on the average capital outstanding in each year, recouping itself by higher rates of interest which were supposed to compensate it for bad debts. It was commonly agreed that it was the natural result of the Reforms Scheme that the Provinces should for the future finance their own loan transactions, and that joint accounts of this nature between them and the Government of India should be wound up as quickly as possible. The matter was referred to the Financial Relations Committee and on the basis of its recommendations in that behalf it was provided by Rule 23 of the Devolution Rules that:
“ Any moneys which, on the 1st day of April 1921, are owed to the Governor-General in Council on account of advances