But the subject has come back. The Anglo American Loan Agreement of 1945, ratified by Congress in 1946, provided $3.75 billion for the United Kingdom, but established that the pound sterling was to be convertible into the current account until 15 July 1947. (i) the transfer, on 1 April 1947, of ownership of military stocks, equipment and fixed assets in India from the Government of the United Kingdom to the Government of India; Transfers of capital agreed between the Reserve Bank of India and the Bank of England of India to the rest of the sterling zone and Vice-Uersa shall be subject to the provisions of paragraph 2 of this Article. Between 1944 and 1947, the American view of India was an upheaval that had many long-term consequences. (b) the term `sterling zone` shall from time to time have the importance attributed to it by the Exchange Control Regulations in force in the United Kingdom. Following the entry into force of the Exchange Control Act 1947 in the United Kingdom, the term “sterling zone”, wherever it appears in this Agreement, is replaced by the term “territories”, which from time to time has the importance attributed to it in the above-mentioned Exchange Control Act. 1947; On February 20, 1947, Her Majesty`s Government announced its intention to transfer power in British India until June 1948 to India. Her Majesty`s Government had hoped that the major parties would be able to cooperate in drawing up the plan for the Cabinet mission of 16 May 1946 and to draw up a constitution acceptable to India for all parties concerned. That hope has not come true. The British promised to leave India by July 1948, but Viceroy Louis Mountbatten postponed this until August 1947.
Sir Cyril Radcliffe headed the Boundary Commission that established the border between India and Pakistan. According to historian Ayesha Jalal, “it was rather an arbitrary line that, in some cases, cut villages in half.” (ii) the settlement of all outstanding cases under the defence expenditure plan and any other accounts related to war-related transactions that took place before 15 July 1947; The Indian Independence Act of 1947 (1947 c. 30 (10 & 11. Geo. 6)) is an Act of the British Parliament that divided British India between the two newly independent states of India and Pakistan. The law was passed on July 18, 1947, and India and Pakistan came into being on August 15, which included the Western (present-day Pakistan) and Eastern (now Bangladesh) regions.  [a] As a pragmatist, Jinnah, suffering from tuberculosis and incurable lung cancer, accepts the proposal of the cabinet mission, as well as the leaders of the Congress Party. The early summer of 1946 thus saw the beginning of hope for India`s future prospects, but this quickly proved false when Nehru, as the re-elected president of the Congress, announced, at his first press conference, that no constituent assembly could be “bound” by a previously agreed constitutional formula.
Jinnah read Nehrus` remarks as a “total rejection” of the plan, which had to be accepted as a whole to work. Jinnah then convened the League`s working committee, which withdrew its prior agreement on the Federation`s program and instead asked the “Muslim nation” to launch “direct actions” in mid-August 1946. . .