History of Dharmashastra (Ancient and Mediaeval Religious and Civil Law in India) v7.c96.s2.78
History of Dharmaśāstra (Ancient and Mediaeval Religious and Civil Law in India) v7.c96.s2.78
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v7.c96.s2.78
U. S. Government aid consists of grants and loans. Grants are gifts and do not involve any repayment. The grants in ten years total 1128 5 million dollars (537.4 crores of rupees). Loans involve repayment, some in dollars and some in rupees or dollars at the option of the Indian Government. Repayment in rupees does not involve the utilization of India's foreign exchange earnings or the export of goods from India. Eighty percent of U. S loans to India up to Aug. 4, 1961 (2192.1 million dollars) are repayable in rupees i. e. that portion of the loans is not so inconvenient as the loans repayable in dollars are.