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University Daily Kansan Thursday, Dec. 7, 1961
Soviet Budget Biggest Ever
MOSCOW —(UPI)— The Soviet Union's annual budget for 1962—the biggest in history—appeared to be a major step in the Russians' drive to surpass the United States in military and economic growth. The new budget, presented yesterday by Finance Minister Vasily Garbuzov to the Supreme Soviet, is certain to be approved by the end of the week without any major changes.
MORE THIAN ONE-FOURTH of the 80.3 billion ruble ($88.3 billion) budget will be earnarmed for welfare and science, with 13.4 billion rubles ($14.7 billion) for the largest Soviet military expenditure in peacetime history.
Russia's parliament was expected to suggest minor changes in the budget, possibly asking for greater appropriations for local projects.
The Soviet government's decision to spend more on education, science, housing and consumer goods is in keeping with Premier Nikita S. Khrushchev's goal of leaping past the United States in economic growth by 1981.
EVER SINCE THE END of World War II, Soviet production has increased each year. Russian leaders claim that production has been increasing 8 to 9 per cent each year—more than double the U.S. economic growth rate.
Despite the heavy emphasis on military expenditures—a 40 per cent increase over 1931—the Soviet Union is moving swiftly ahead in both production and consumption.
The 1961 Economic Plan indicated that greater emphasis would be placed on manufacturing capital
equipment for the consumer goods industry.
ALTHOUGH THE United States has held a commanding lead in heavy industries, Russia has gained considerable ground in the electric oil, gas and steel industries.
The Soviet military budget appeared to be smaller than the $50 billion allocated by the United States for its defense budget. But certain expenditures, such as rocket development, could be hidden under general allocations for science and heavy industry.
Khrushehev, chit-chatting with newsmen yesterday at a Finnish reception here, disclosed he does not plan to speak before the Supreme Soviet and probably will make another swing through the agricultural country of the Ukraine and Byelorussia.
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