A state can not run without finances. For a state finance is what blood is to our body. Kautilya accepts this basic fact frankly. So, treasury is the most important institution of a state. All the undertakings and welfare of the state depends on the financial management.
Kautilya’s Arthshastra pay due attention to the financial management and strengthening the treasury through clever taxation.
He lays down the duties of the treasrues, superintendent of the mint and the gold reserves. He prescribes monetary fines on economic offenders and penalties for several other offences.
Evaluation of the grain products and other commodities is also given. For the purpose of taxation he has explored all kinds of incomes. He even suggested taxation on drinking, gambling and prostitution even if it meant indirectly recognising the above practices as legitimate business.
During those days metals, minerals and gems were basic industrial products. So, Kautilya details matters relating to the above products in respect of quality, purity and the genuineness.
He prescribes all mining to be done by the state.
There is amazing information on geology, agricultre, matellurgy, animals husbandry etc in Kautilya Arthshastra which proved how well developed these science were in ancient India. They had comied their own terminology for various matals and alloys. So is the case with gems and the jewellery.
Metals
Kautilya thought that mines were the real treasure houses of a state out of which sprang all the material games and power. Naturally he give big imporatance to mineral wealth.
The science of mining and the techniques of processing ores and making alloys was quite advanced in India of that time. Kautilya book has a wealth of information on this subject.
He advocates total control of the state over products like gold, silver, gems, diamonds, pearls, metals, sea shells, salt etc. It should be noted that during that period some kinds of sea shells were used in India as low value coins. The book gives a hint that then about twelve metals or alloys were in great demands.
Kautilya also propose the framework of mening administration heaved by ‘Director of Mines’. The duties of the director is detailed in Arthshashra beside his qualification.
He suggests to give more attention amount of ores with less capital inputs and greater profits. He advocates leasing out of capital intensive, less profitable and speculative mining to private parties.
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