Pakistan still owes India Rs 300 crore as pre-partition debt

Discussion in 'Politics & Society' started by I-G, Jul 7, 2009.

  1. I-G

    I-G Tihar Jail Banned

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    Pakistan still owes India Rs 300 crore as pre-partition debt
    6 Jul 2009, 1832 hrs IST, PTI


    NEW DELHI: 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.

    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.

    Pakistan still owes India Rs 300 crore as pre-partition debt - India - The Times of India
     
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  3. 1.44

    1.44 Member of The Month SEPTEMBER 2009 Senior Member

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    I say add interest to it and use spend it on defense or better yet use it to fund RAW.
     
  4. Dark Sorrow

    Dark Sorrow Respected Member Senior Member

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    How are they planning to repay it?
     
  5. Daredevil

    Daredevil On Vacation! Administrator

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    Better to get it back, otherwise it would be used for terrorism against India.
     
  6. 1.44

    1.44 Member of The Month SEPTEMBER 2009 Senior Member

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    I'd say never.They're like a sinkhole for money.Money goes in but it can't get out.
     
  7. Antimony

    Antimony Regular Member

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    I would hazard a guess and say that they are not planning anything in the way of payment.

    Do they even acknowledge it in their books?
     
  8. I-G

    I-G Tihar Jail Banned

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    Pre Partition debt to whom ?
     
  9. venom

    venom DFI Technocrat

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    U cant ask beggers to pay..............

    i would be shocked if pak paid even the actual amount, forget the interest......

    Ha ha.........this news made my day
     
  10. F-14

    F-14 Global Defence Moderator Senior Member

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    i say put an intrest of 125% and ask them to pay it
     
  11. EnlightenedMonk

    EnlightenedMonk Member of The Month JULY 2009 Senior Member

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    Let's not get carried away guys...

    300 crores today is a pittance for us... I'm sure an amount many times of this is being spent on various worthless aspects of the budget... so, this 300 crores + its interest isn't going to make much of a difference to us...

    This is our chance to ridicule them a little and make fun of them... let's play up this story in the media and then make a huge hue and cry about it saying that the principal + interest goes to this huge amount and we're yet to be paid...

    But, say that you are willing to give this money away as aid to Pakistan since it is a "poor" and "impoverished" nation and it would be right for us to help them at this juncture...

    By the way, considering a period of 60 years with a simple interest of about 5% I've reached the conclusion that they owe us about 250 million dollars (48 used for converting from rupees to dollars). And, these were just rough estimates and calculations. Now, if we consider compound interest, it ought to be much more...

    This way, we get many advantages -

    • Ridicule Pakistan publicly and make fun of them
    • Our stature goes up in the International media as a sympathetic donor nation
    • Puts Pakistan in a quandry, because they cannot openly reject such an offer for aid when they are in trouble and it would be interesting to see their response.
     
  12. Ray

    Ray The Chairman Defence Professionals Moderator

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    Let them have enough money to pay themselves and then we can discuss.

    It is our heritage to support beggars!

    Let us not discuss the 51st state of the USA.

    Obama will know better!
     
  13. ZOOM

    ZOOM Founding Member

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    Why cannot we simply write it off from the books?
     
  14. EnlightenedMonk

    EnlightenedMonk Member of The Month JULY 2009 Senior Member

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    I agree with you... read post #10 that I've written... have suggested the same thing, but only after we get enough political and international exposure as a "donor nation"...
     
  15. I-G

    I-G Tihar Jail Banned

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    300 crore of Hyderabad are there in Westminster Bank since 1948 and Pakistan is trying to claim that money
     
  16. Daredevil

    Daredevil On Vacation! Administrator

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    Which Hyderabad are you talking about??. If it belongs to Hyderabad in India, then it is Indian property not Pakistan's. So they cannot claim that money.
     
  17. I-G

    I-G Tihar Jail Banned

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    I m talking about Nizam money which was deposited in 1948 before Hyderabad become part of Indian Union
     
  18. S.A.T.A

    S.A.T.A Senior Member Senior Member

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    The perennial beggars even owe us money ?

    I suppose we could waive the debt off in return for POK.
     
  19. 1.44

    1.44 Member of The Month SEPTEMBER 2009 Senior Member

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    Good Luck trying to get the money of an Indian state.Anyways 300 crore are a pittance as Monk says we should bring ourselves to light as an donor nation.
     
  20. Daredevil

    Daredevil On Vacation! Administrator

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    Hyderabad never belonged to Pakistan, so I don't understand why they claim that money. Sophisticated begging???:blum3:
     
  21. 1.44

    1.44 Member of The Month SEPTEMBER 2009 Senior Member

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    ^^
    Maybe they're mistaking Indian Hyderabad for the one in Sindh.Trying to use technicality:D
     

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