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Parliamentary Debates Monday, 5th February, 1951 PARLIAMENTARY DEBATES ’(Part I—Que****®* ■“ <* AuBwet#)] ^ ? - / OFFICIAL REPORT ^ ^ * ; ▼GLUHE VI, 1861 (6th I^bnury to 81st H anh. 1961) Third Session (Second Part) of the PARLIAMENT OF INDIA 195 1 CONTENTS Votunu VJ-^/rom 5/A February, U StH Mmrdi, 19i2 Monday, 5th Pelmiary, 19S1 Oral Anfiwen to Qua«li<ms , I1J7—1170 to Qoe«tioQii 1170—1174 Tocudaj, eth February, 1061— OraJ Anawens to Queationii . 1175—1203 Written Answert to Qae«ti<ma I20S—121« WfkdiwMMiiiy. 7th February,,1951— Member Sworn . , 1219 OraJ Aa$wm to Queations . 121»—1246 VYritton Answom to Que^tiona i m —1358 Thursday, $th Fi^niary. 1961— Oral Aiwvrcrw to (^uaat imui . 12^—1285 Writton Answer# to Qoegilonji 12S5—1292 Friday, »th F«bruary. 1951— Oral Anawera to Queationa . 12»S-.IS19 U ritton Anawora to Queationa 1319-~m 2 Monday, 12th F«»bruary, 1951— 0ml Anwom to Quaationa . 1331-^1364 M'rit ten Amwtmi to Quaaiioot 1364—1373 Tttoaday, 13th Febru«r>% 1951 Oral Ausweris to Queationa . 1373—1399 Written AnAwc^fa to Qtio»ttona 13»»—I40d WedxMaday. I4th Kebniary, 1951— Oral Anaw^rK to Queationa . 1409—1438 WritKfo Aoaw«»rs to Quaatioos 1438—1454 Hiujmday, 15th February, 1051 - Oral Anawctra to Quo^ttooa . 1455—1487 Written Anaw«ni to Queattona 1487—1490 FViday, I6th February, 1951- Oral AtMw»ra to Quo»tiona . 1491—1522 Writton Anawera to QuaaUona 1522—1528 Monday» 19th February, 1931— Written Anflw«ra to Queitioiui 1527— 1550 Tw»d<iy. 20th Fabruaiy, 1951— Oral Axiawera to Quenitona . 1557—1586 Written Anaw«r« to QuMtiona 1586—1586 Wedmaitajr, 2l« Febnuuy, I95l_ Oral A naw ^ to Quo»tiofui . 1597-1631 Written Aa»w«nsi u» Qu^ationa 1631-1638 234 P ,aD . * ( ii ) *nmrBday, 22&d Februaiy, IM l— Ooium n9 Oral Amcwtn to QaMti«iu . 1639— 1667 Written Answers to Qowtioui 1667— 1678 Friday, 23rd February, 1951— M«nber Sirom . , . 1679 Oral Answers to Questions . 1679— 1704 Written Answers to Questions 1705— 1712 Monday, 26th February, 1951— OraJ Answers to Questions . 1713— 1739 Written Answers to QuestJons 1739— 1750 Tuesday, 27th February, 1951— Oral Answers to Questions . 1751— 1783 Written Answers to Questions 1783— 1802 Wednesday, 28th February, 19 51- Oral Answers to Questions . 1803— 1830 Writt^si Answers to Questicos 1830—1838 Thursday, 1st March, 1951— Oral Answ«is to Questions . 1839— 1865 W rittoi Answers to Questiocis 1865—1874 Friday, 2nd March, 1951— Oral Answers to Questions . 1875— 1901 Writtra Answers to Questions 1902— 1914 Monday, 5th March, 1951— Oral Answers to Questions . 1915— 1949 Written Answers to Questions 1949— 1956 Wednesday. 7th March, 1951— Oral Answers to Questions . 1957— 1987 Written Answers to Questions H>87<_-1996 Thursday, 8th March, 1951-< Oral Answers to Questions . 1997—2042 Written Answers to Questiocis 2042-^2058 Friday, 9th Mareh, 1951— Oral Answers to Questions . 2059— 2085 Written Answers to Questions 2085—2096 Saturday, 10th March, 1951— Member Sworn . , 2097 Oral Answers to Questions . 2097—2131 Written Answers to Questions 2131—2314 Monday, 12th March, 1951— Oral Answers to Questions , 2135—2166 W'rittffl} Answers to Questions 2166—2186 Tuesday, 13th March, 1951— Oral Answers to Questions . 2187— 2217 Written Answers to Questions 2217—2224 Wednesday, 14th March, 1951— Oral Answers to Questions . 2225—2264 W^ritt«ai Answers to Questions 2254—2222 O ii ) Tfaund«y» 15tfa March, OmI Aiwwers to Questioiui . 2263—2295 Written Answerv to Questioas 2296—2*08 FricUy, 16 th March, I961-- Oral Answers to QuMiions . 2309—2^40 Writtwi Answen to QoeetioQa 2340—234 Monday, 19th March* 1951— MembOT Sworn . , . 2343 Ora) Answers to QxteBiiona . 2343—2371 Written Anawerv to QneationB 2371—2386 Tueaday, 20th March, 1961- Oral Anawem to QtMetiona . 2387—2416 Written Answers to Questions 2416—2444 W^ednesday, 21«t Martsh, 19 61- Oral AnsweTB to Questions . *44&—2474 Written Answ«T» to Questions 2474—2484 Saturday. 24th March. 1951— Oral Answers to Questions . 2485—2518 Written Answers to Questions 2518—2626 Monday, 26th Marvh, 1961— Oral Answers to Questions . 2527— 2461 Writtmi AnswiNv to Queetions 2561—2576 Tuesday. 27th March, 1951— Oral Answers to Questioiis . 2677—2606 Written Anrwers to Questions 2606—3618 Wednesday, 28th March, 19 61- Oral Answers to Questions . 2619—2651 Written Answers to Q m tions 2661—2658 Friday. 30th Mawh, 19 61- Oral Answers to Questions . 2669—2688 Written Answers to Queeiiona «aiuvday. Slst March* )961— Oral Answers to Questions . 2699—2732 Written Anawen to < 2733—2750 PARLIAMENTARY DEBATES (Part I—Queitions and Answers) iOmOUJU IU7 i m PARLIAMENT OF INDIA Shrl A. C. Gniia: Is there any definite amount fixed for our annual ndtbdraw>^ Motidatf, 5th Pebrnarff, 1951 , ^ now? Ontl C. O. Dcdnakh: T b m i t The Hotue m et at a QuarUr !» SUfven fixed amount of the Clock. Shri A. C Gidtt: How is our with­ fM «. SmxESL in the C hiiif] drawal regulated now? S M C. D. OcadmnddK Now there It ORAL ANSWERS TO QUKSTIONS no limit on the withdrawals waA we can CoMiioivwEALT» Doujut Pool antid$»ate that all our reaaooable m- QuiTQpients w ill be met out ^ tbe SInl A. C G«ks: («) Wm the Pool, Minister of « w e e be pleased to state what have been the eandiigs of Dollar A . C. iSabMi What was the to be put in the Commonwealth Dollar arranfem^t in IM ? Pool during the last three jf«ars? Stoi C. D. De^UMft^: The with­ (b) What was the eam inf eadi unit o f the Commonwealth the drawals wete Ihnited to 75 per n m t last three years? tit our expenditure in D c ^ r s in 1948. (c) How mu<^ has each country SM A. C. Gidui: What Is the cri­ drawn from the pool during ttiose three terion to decide as to how our ^srttlK years? drawals are to be taken? SM C. a D esteO ck ; l^esre is "no > B fl»l9ler ^ Fiaaaee (SkH C. 0 . limitation now, but it has been agreed Desh«tOth>: (a) There is no Common­ that all sterling earning countries wiU wealth Dollar Pool. Presumably the do their best to economise tfellar ex* hon. M«mber refers U> the Central penditure with a view to streti^hen- gold and dollar reserves of the sterling Ing the Central Reserve and hasten the •wa* The net retuUs o f our conv«rtibility of sterling. operatlc«s on the*© rejerves during Shrl A. C G«ha: Are we to imfe?- stand that we can withdraiw as mw* as we may like or as we need ? • "** ^ * »* SM e D. DeiiuB^: ^»soiiably yes. rnimoL^ • "** »* • «* iMMStOht BjUIX $ TmMon**®’ • ^ m n . aawl A c. Oaha: Will ^ T fm ncc be ii> (b> and <c). Separate ^gures for state: «ach member of the sterling area are i^t avaUable; but the d ia n m ^ ^ (a) what perc«itage of the shai«^ c^tral reserves during these three capital of the Imperial Bank is owibedi years were as follows: by Indian Nationais; ii) tn 104a, a reduction o f $ S23 (b) whether the Govemn^nt of million. mdia haj^ got nominee on ttat Central Board of Dilators of tfie perial Bank; and miUlon^ a reduction of $ ItS (c) il to, what »re th« dbttocttv* toww* and privi* lgw » ot the Oovemmeat nominee im PA D&Mtw fitttn «ioM a otlw r 1^ ^ ^ im Oral Atmotn 5 fISRyARY 1951 Orel Anmotri 1140 The Minister M fflwoee (Sbri C. D. [Selb Govli^ Das: By wben may it Desbmukh): (a) Excluding shares held be expected?) by Corporate bodies and Institutions, shares held by Indian Nationals on Mr. Speaker: We have discussed this the 23rd May, 1950, were 80 per cent question very often. of the fully paid-up shares and 88 per Sbri A. C Gfuba: Was an Indian c « it of the partly paid-up shares held e^er appointed as Managing Director by individuals, ^ any time? (b) and (c). Under Section 28(1) tiv) Sbri C. D. Desbamkb: Not so far. of the Imperial Bank of India Act, The Managing Director has not to my Government have n(»ninated two per­ knowledge been an Indian. sons on the Central Board of Direc­ tors of the Bank. These Directors Sbri A. C. Gfiha: How is the Manag* have the same powers and privil^es ing Director appointed now. by the as other Directors of the Central Directors and share-holders? Board. The GovCTnment have also nominated under sub-section (3> of Sbri C. D. Desbmnkb: The Managing Section 28 an ofBcer of Government to Director is appointed by the Directors. attend the meetings of the Coitral Sbri A, C. Gnba: While 80 per cent Board and such officer is entitled to of the shares have been held by attend all meetings of the Board and Indians, is it not the duty of the Gov­ to take part in its dellberatiums but is ernment to see that the Manaj^ing not entitled to vote. Director of this Bank is an Indiars^ & ai A . a Chda: Is there any Mr. Speaker: Order, order. I think, special committee for the Cetttral be is arciiins. Board? Sbri C. D. DesluBiikli: The Central Sbfl B. l>as: Will the Hon. Finance Board has no committee, but I think Minister tell us what steps have been the local boards have weekly com­ taken lo nationaUsc the Imperial Bank? mittees. Mr. ^leaker; Order, order Sbri A. C. Gidut: A re the G«)wrv- Sbrt M. L. Guptm: Yon stated that ment nominees entitled to attcaad the we have two Directors in the pwl and committees and take part in their that Government have aho nominated deliberaticms? <me omcer to attend the me^ings.
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