FM announces new austerity measures - IBTL

FM announces new austerity measures

May 18, 2012 Comment

New Delhi, (ANI): Indicative of the tough days for the economy ahead, the Union Finance Minister Pranab Mukherjee today announced new austerity measures aimed at reducing government expenditure. The measures include putting a blanket ban on buying new vehicles by the government, besides imposing curbs on holding workshops/meetings by government officials at five-star hotels. Foreign trips by government officials will also be restricted, as part of the new initiative. However, Mukherjee assured that there was no need to press the "panic button".

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