THE Finance Member, Mr. Liaquat Ali Khan, replying to some of the criticisms made in the course ofdebate on the Budgetproposalsin the Council of State on Wednesday [March 5], refuted the allegation that he was out to destroy industrial development. The majority of newspapers and particularly the Indian language Press had welcomed his proposals and the opposition was confined to a particular section.

The present Government, he said, was a popular Government and responsive to the Legislature and it was the duty of the House not only to assist the Government in a difficult task but also to view the proposals in a constructive rather than a destructive spirit. The new businessproñtstax,he said,couldnotaffectproduction in the future because the tax would be levied on profits already made. The Finance Member denied that the tax on capital gains would be very harsh. ...Concluding, Mr. Liaquat Ali Khan appealed for co-operation from industrialists and capitalists and asked them to recognise the changing times and not to create panic in the country. Dawn Delhi