Report of the Fiscal Commission 1949-50 (Written Evidence)

In fixing the amounts of the specific duties the object in view was to restore as far as possible the fair competitive conditions which prevailed in the period before the depreciation of the yen. [...] The Fiscal Commission appointed by the Government of India in 1921 recommended that discrimination should be exercised in the selection of industries for protection and in the degree of protection afforded so as to make the inevitable burden on the community as light as is consistent with the due development of industries" On the strength of this basic principle the Commission decided' that an [...] Having regard to— (a) the future structure of our foreign trade (b) the anticipations relating to the course of international trade (underlying the Havana Chxter on Trade and Employment) and (c) the broad lines of our Industrial Policy as laid down in the Statment of the 6th April 1948 would you attempt a formulation of the objectives of our long-term fiscal policy?12 Q. 52. [...] Q. a. (i) In the light of your replies to the above questions would you formulate your views on the desirability of continuing the existing system of preferences between (a) India and the United Kingdom (b) India and the other Dominions and (c) India and the other British territories? [...] The aims of the Organization are to promote the expansion of international trade by fostering the increase of production and employment and by encouraging the economic development of the backward areas.