London, April 5: Chairing a meeting of the Chartered Bank of India, Australia and China, Sir Montagu Turner, referring to India’s financial situation, said that the budget deficit is due to abnormal demands and abnormal conditions. India was a country of immense resources and amazing regenerative powers and, provided the retrenchments recommended by the Inchcape Committee were effective, provided political agitators were reasonably restrained and provided normalcy prevailed in Europe and America, they saw no reason to Was giving that India should be abolished soon. For a long time in a very satisfactory financial condition.