Indian Govt. On a strict austerity
Posted on: 19/Sep/2013 1:50:37 PM
Indian Government has introduced strict procedures to cut down expenses in order to maintain the fiscal deficit within the 4.8% of GDP in 2013-14. The Finance Minister P. Chidambaram along with his Finance Advisory members has come out with a series of measurements to be adhered by the executives.
Conferences on five star hotels and air travel in the executive class are strictly banned. All ministries and departments must not indulge in purchasing new vehicles. They must neither create new jobs nor fill the vacant seats for one year. This will cut down 10% of the expenditure, the finance ministry has calculated.
