Mr Pranab Mukherjee, did we hear ‘austerity’?
Finance Minister Pranab Mukherjee, who is also one of the contenders for the post of president, has been trying his best to clear the air and restore the confidence to get the economy back on track.
In his recent Parliament speech, after he delayed the controversial GAAR norms, Mukherjee said new ‘austerity measures’ will be announced to aid the fiscal consolidation process.
The government, however, still doesn’t seem to be frugal when it comes to spending.
On Monday, newspapers in New Delhi were flooded with ads, some of them full page, on the 21st death anniversary of India’s former Prime Minister Rajiv Gandhi. Hindustan Times alone had 11 of them. The Times of India had nine while The Indian Express had eight, all paying tribute to Gandhi.
And it’s a collective effort of various ministries. From the Delhi government to the ministries of power, steel, environment, information & broadcasting, women & child development, commerce & industry — all have space reserved in national dailies to pay tribute in their own way.
Several million rupees are spent on print media ads on the birth and death anniversaries of national leaders. It is tough to understand how India can afford to spend taxpayers’ money this way when there is dire need of reforms as growth languishes near 3-year lows, current account deficit rises and the rupee sinks.
When it comes to austerity, even Pratibha Patil, the President of India, has been under fire. She has been criticised for costing the public exchequer more than 2 billion rupees on her foreign trips, a record for any Indian president.
A few days after his Parliament speech, Mukherjee announced a ban on government employees buying new vehicles and imposed curbs on holding workshops/meetings by government officials at five-star hotels.
And it’s a collective effort of various ministries. From the Delhi government to the ministries of power, steel, environment, information & broadcasting, women & child development, commerce & industry — all have space reserved in national dailies to pay tribute in their own way.
Several million rupees are spent on print media ads on the birth and death anniversaries of national leaders. It is tough to understand how India can afford to spend taxpayers’ money this way when there is dire need of reforms as growth languishes near 3-year lows, current account deficit rises and the rupee sinks.
When it comes to austerity, even Pratibha Patil, the President of India, has been under fire. She has been criticised for costing the public exchequer more than 2 billion rupees on her foreign trips, a record for any Indian president.
A few days after his Parliament speech, Mukherjee announced a ban on government employees buying new vehicles and imposed curbs on holding workshops/meetings by government officials at five-star hotels.
Sources:
reuters
reuters
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