Kal, the rest of us in this thread new he ment 33-1/3.
Akhan, if the powder you used was baby powder it may have moisturizing oils in it. Make sure you use 100% pure talcum powder. If you did use a baby powder with a moisturizing you will need to clean the belt to get off the oil. To clean this old belt you could use a clean tissue soaked in methylalcohol, {wood alcohol}, Not rubbing alcohol. Also reclean the motor pulley and platter edge. This might get you buy until you get a new belt.
Good luck with your new toy.