Page 214 - Bahrain Gov Annual Reports (III)_Neat

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NOTES ON REVENUE AND EXPENDITURE, YEAR 1364.

In the year that has closed the revenue of the State amounted to 64 lakhs and exceeded my
expectations by 16 lakhs. The greater proportion of excess of actual revenue over estimated revenue
was from Customs Receipts which produced almost 24\ lakhs, only six lakhs less than the oil royalty,
against the budgeted figure of Rs. 15,60,000. The royalty from oil was 3} lakhs more than I had
anticipated and other items of revenue showed substantial increases.
The revenue in 1364 was 9 lakhs higher than in 1363.
My estimate of the expenditure for 1364 was exceeded by only Rs. 34,000. The total expen­
diture during the year was 38! lakhs as against 33 lakhs in the previous year, this expenditure did not
include any new works or major undertakings of importance.

During the year Rs. 18,80,000 was added to the Reserve Fund which at the end of the year
amounted to 120 lakhs, producing an annual income of Rs. 3,72,000 and the Foodstuffs account
contained 29 lakhs. When the supply position becomes easier and it is no longer necessary for the
Government to buy and to hold in stock large supplies of food and essential materials this account
will revert to the treasury and if added to the Reserve Fund would raise it to a figure of over one
million pounds sterling.
In 1351, thirteen years ago, the total revenue of the State was slightly over 6| lakhs and the
Reserve Fund was approximately 2 lakhs.

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