Pakistan owes $62.5 Million to India

[malhotraraul]

Pakistan still owes Rs.300 crore ($62.5 million) to India, which is being carried every year as a liability in the budget account. This pre-partition debt was first entered as a liability in the first budget of independent India in 1950-51.

The 62.5 million debt is referred by the budget as "amount due from Pakistan on account of share of pre-partition debt." This amount accounted for more than 10 percent of India's total liabilities of Rs.2,865 crore in 1950-51 and nearly 10 times of its external debt of Rs.32 crore. Today, it is a small amount compared to the total liabilities of Rs.34,95,452 crore that the government has. India has not added any interest to this amount since then.

India on the other hand cleared its share of the pre-partition debt of Rs.50 crore soon after independence.

 

[thetoxicmind]

And I'm guessing we'll continue to carry it over every year without any interest.

 

[blr_p]

How can they mix money from the 50's with today's money ?

I think its just symbolic, lest we forget

 

[Renegade]

If the discussion gets dirty the perpetrator will get permanently banned from TE. So keep it clean

 

[linuxtechie]

If the discussion gets dirty the perpetrator will get permanently banned from TE. So keep it clean

I know OT: Still :rofl::rofl::rofl::rofl:
~LT

 

[Audiophi1le]

Pakistan still owes Rs.300 crore ($62.5 million) to India, which is being carried every year as a liability in the budget account. This pre-partition debt was first entered as a liability in the first budget of independent India in 1950-51.

The 62.5 million debt is referred by the budget as "amount due from Pakistan on account of share of pre-partition debt." This amount accounted for more than 10 percent of India's total liabilities of Rs.2,865 crore in 1950-51 and nearly 10 times of its external debt of Rs.32 crore. Today, it is a small amount compared to the total liabilities of Rs.34,95,452 crore that the government has. India has not added any interest to this amount since then.
India on the other hand cleared its share of the pre-partition debt of Rs.50 crore soon after independence.

add

+ damage caused by 1971 war + damage caused during kargil war + damage caused by "freaks with grenades and bombs".

they will have to sell the country to India which we dont want even for free......we are very happy with naxals, freaks frm swat, politicians, LTTE, ULFA, PWG.....hyeah:

 

[Roxtin]

^Nope I would very much like the complete Undivided India

 

[blr_p]

oops !!!

...........

 

[SharekhaN]

Yea let us charge some rent on that Pak occupied Kashmir. Why should they get all of that for free when I have to pay *behind*numbing amounts to my bank as loan money...

 

[Params7]

Pakistan will get free 10.5 million USD from ICC in 2011.

Maybe they can use that to make a part of the payment??

YEAH IN OUR DREAMS

 

[SidhuScorpion]

^ LOL in their dreams, they havnt got promised $ 4 million, was due to get from India for the organisation of the 1996 World Cup. Pakistan accepted 30% after 13yrs :lol:

 

[Vulc4n]

Pakistan still owes Rs.300 crore ($62.5 million) to India, which is being carried every year as a liability in the budget account. This pre-partition debt was first entered as a liability in the first budget of independent India in 1950-51.

....
India on the other hand cleared its share of the pre-partition debt of Rs.50 crore soon after independence.

Just curious, where did you get this info from? If Pakistan owes India money why will it be entered as a liability on India's books. It should be an asset.

I didnt understand this funda of pre-partition debt. Why not net off, when the countries owed each other some money. Any links would be informative.

 

[malhotraraul]

Just curious, where did you get this info from? If Pakistan owes India money why will it be entered as a liability on India's books. It should be an asset.

I didnt understand this funda of pre-partition debt. Why not net off, when the countries owed each other some money. Any links would be informative.

google it dude !!!!!!!!!!!!!!

 

[Vulc4n]

^^ Yeah. Though would've been better if you could post links to exactly what you are referring to.

Edit: I am guessing this is what you are referring to

http://www.ndtv.com/news/india/pak_yet_to_clear_pre-partition_debt_of_300_crore.php

Try to post sources when you are doing a copy paste job. Still not clear about the doubt I had though. Oh well.

 

[t1ruda]

bah...50 saal ki gandagi kaha tak lekar jaoge??? ... raat khatam paar baat khatam hi nahi hooti....!!!

 

[MAGNeT]

not a big deal.....unofficially from wht i heard frm my frnd..every year reliance pays 500 crores to pakistan....to not target its plants....

Plus on contrary one person who i know works in dock..everyyear tonne of sugar comes from pakistan which need to b distributed in ration store at 2-5rs per kg......which comes for free as what i heard and the state govt everytime says its of low quality and sell it at premium of 20-30 buks as national sugar...the person owns a ration shop....

I have no source....but still it will work from both side...

Btw it reminded me of gaddar the partition dialogue is it same amount we talking here about?

 

[chiron]

I liked the yahoo answers thread better.