Austerity Measures

  • Vasundhara Raje's austerity measures to give competition to AAP govt January 11, 2014

    Jaipur: Delhi's Aam Aadmi Party government's roadside public hearings, austerity drive and brushing aside VIP culture has some serious competition coming from neighbouring Rajasthan's Vasundhara Raje government. After deciding to cut down her security detail by half, not moving to the designated chief minister's house and stopping at traffic lights, Vasundhara...
  • UPA's new austerity measures, officers to travel only in economy class September 18, 2013

    New Delhi: The Central Government has announced new austerity measures to cut non-plan expenditure by 10 per cent. Finance Minister P Chidambaram said that the government officials, barring top bureaucrats, will fly only in economy class for domestic tours. The Finance Minister also added that the government will impose a...
  • Spain unveils new austerity under pressure July 12, 2012

    Recession-plagued Spain unveiled new austerity measures on Wednesday designed to slash 65 billion euros from the public deficit by 2014 as Prime Minister Mariano Rajoy yielded to EU pressure to try to avoid a full state bailout. The conservative leader announced a 3-point hike in the main rate of Value Added...
  • World waits and watches as Greece heads to vote June 17, 2012

    A win for the Left-wing Syriza LED party would mean Greece's exit from the EU and bloodbath in the markets worldwide. ...
  • Pranab's austerity mantra: No five-star meetings May 18, 2012

    New Delhi: The government may slash spending on foreign travel by ministers and officials and on meetings in five-star hotels as part of austerity measures to cut down on budget deficit. Two days after announcing in Parliament, Union Finance Minister Pranab Mukherjee announced the first steps in that direction. This is...
  • Pranab's austerity: Officials' foreign trips curbed May 18, 2012

    New Delhi: Two days after announcing in Parliament that India will have to tighten its belt, Finance Minister Pranab Mukherjee has hinted at austerity measures that will be taken. Pranab said that there will soon be a ban on the purchase of new vehicles by the government departments. Interestingly, Home Minister...
  • Italy PM unveils sweeping austerity package December 5, 2011

    Rome: Prime Minister Mario Monti will present a 30 billion euro package of austerity measures to parliament on Monday designed to shore up Italy's strained public finances and help to stem a debt crisis threatening to overwhelm the euro zone. Cabinet approved the mix of tax hikes, pension reforms and incentives...
  • Greece backs auterity, protester clash with police June 29, 2011

    Another bill has to be passed by Thursday for the government to secure the money. ...
  • Protests in Greece against austerity measures May 21, 2010

    Athens: Thousands of striking Greeks marched peacefully to Parliament on Thursday in a protest against government austerity measures that was much smaller than a huge rally that led to rioting on May 5. Anger may have receded since the shock of big government wage cuts and tax hikes that came in...
  • Real money saver: ministries asked to limit schemes September 16, 2009

    New Delhi: The country will aim at scrapping irrelevant government schemes and reduce subsidies in the next fiscal year, the Finance Ministry has said, as it grapples to keep a lid on spending and rein in the fiscal deficit. The government's stimulus spending to revive a slowing economy has strained its...