Pranab begins austerity: Ban on buying vehicles

May 18, 2012 13:27

Finance Minister Pranab Mukherjee announced new austerity measures aimed at reducing government expenditure.

Mukherjee, who is faced with the spectre of slowing economy and rising inflation, has put a blanket ban on buying of new vehicles by the government, except for defence purposes.

-- Foreign trips by government officials will be restricted.

-- No seminars or conferences to be held in five-star hotels

-- A 10 per cent cut in budget for seminars and workshops.

This is not the first time that austerity measures have been announced s uch steps were earlier announced in September 2009 and July 2011.

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