New Delhi:
The government may soon announce that austerity measures, implemented in 2009 and 2011, are in effect.
On Wednesday, as he addressed parliament about the weakening rupee and the slower-than-expected growth rate, Finance Minister Pranab Mukherjee had said that though he didn't want to hit the panic button, it may be time to think of austerity measures.
Today, the Minister of State for Finance, has said in a written reply to parliament that the government may ban officials from holding meetings and conference in five-star hotels, along with cutting back on foreign tours. Other cost-cutting measures will include shaving 10% of the budget for holding seminars, workships and conferences. Vehicles will not be bought by the government except for the armed and para-military forces.
On Wednesday, as he addressed parliament about the weakening rupee and the slower-than-expected growth rate, Finance Minister Pranab Mukherjee had said that though he didn't want to hit the panic button, it may be time to think of austerity measures.
Today, the Minister of State for Finance, has said in a written reply to parliament that the government may ban officials from holding meetings and conference in five-star hotels, along with cutting back on foreign tours. Other cost-cutting measures will include shaving 10% of the budget for holding seminars, workships and conferences. Vehicles will not be bought by the government except for the armed and para-military forces.
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