India was stripped off its revenues for next 45 years! On
August 14, 1947!
And when country didn't prosper, they blamed "Hindu
rate of growth"
Laying it all bare, with the primary evidences.
(Source of document: FINANCIAL
AGREEMENT BETWEEN THE UNITED KINGDOM AND INDIA [1947] INTSer 4
Do you see a figure of 1.16 Billion Pounds being stripped
from RBI which had to open account with Bank of England!
This whole accounting is fraud. Origin of Indian phrase
"do numberi dandha".
Number 2 account is what is controlled by Britain directly.
Number 1 account is from where India could withdraw after
paying ransom to "a family" and "b family". You will know
what these families are!
Do you know Enemy properties act. Those properties which
were left in India! Do you know India had to pay for these properties. Now WAQF
taking them is like double dipping.
Icing on the cake: Officers and Jawans who did atrocities on
India people including Jaliyanwala Bagh, were paid their pensions by the progeny of
Indians who received these bullets! (account No 1)
What a travesty
is this. Why did India pay pension for the British army officers who were not
Indians! BTW Chacha did not pay pension to INA or to those teenage boys who
brought down the whole British empire in 1946.
Now some math. Here is the total budget receipt in 1949-50
for comparison. India's total revenue was Rs. 307.74 crore.
Money held up in number 2 account by Britain amounted to
£1.16 billion, which, at the 1947 exchange rate of ₹13.33 per £1, equated to
approximately ₹15,460 crore!
Compare that to the total expenditure of Rs. 322.53 crores
as provided in the budget of 1949-1950 from finance minister of India (primary
source)
Or there was money which could have paid for all the bills
for next 45 years in India's name.
Chacha behind the agreement!
This is economic betrayal of India!
India Had Earned It Fairly: The £1.16 billion sterling
balance wasn't a gift. It was India’s own money, earned from supplying
soldiers, materials, and goods to the British during both World Wars.
Britain Froze Indian Funds: Despite India needing the money for rebuilding its economy post-independence, Britain refused immediate full access. It kept it in the so-called No. 2 Account, restricting India’s use. Finally, both accounts lapsed with the United Kingdom on 31 Dec 1945.
Staggered Release with Conditions: Even though the amount
was India’s, Britain only allowed limited, conditional withdrawals and even
used part of the money to pay British pensions and war-related
liabilities—costs the British incurred for their own wars, often fought using
Indian lives and resources.
“Blocked Account” Strategy: By splitting the funds into No.
1 and No. 2 Accounts, the UK effectively controlled how and when India could
access its own money. This tactic preserved British postwar solvency at India’s
expense.
Economic Strangulation During a Crisis: At the time of
partition, famine, and displacement, India needed every penny, but the British
essentially blackmailed India into compliance—especially over issues like the
payment to Pakistan, which Gandhi protested for, leading to his final fast.
Colonials and Congressis were hand in glove. And Islamists
who had guns ran rampant in India's land of NWFP and Kashmir causing
significant distress.
As we break free of colonialism and rise as a Dharmic
nation, it is an emotional moment. What were they thinking!
Be free. Be nice to each and every Bharatiya. As a
civilizational nobody in the world has gone through so much shi* like we have
done and now we will thrive.
Utthista Bharathaha! Jayatu Sanathana.
Source:: History इतिहास
@ShreeHistory