-IANS Facing a slow-down in the economy, the government has launched an austerity drive to reduce expenditure, banned new posts and meetings in five-star hotels besides restricting foreign travel. The finance ministry, which issued the office memorandum on "Expenditure Management - Economy Measures and Rationalisation of Expenditure" Thursday also asked all ministries to reduce non-Plan expenditure by 10 percent in 2012-13. "There will be a total ban on holding of meetings and conferences...

-The Economic Times The finance ministry on Thursday announced a 10% cut in non-plan expenditure in the current fiscal as part of austerity measures aimed at containing its ballooning fiscal deficit. The Centre is aiming to bring down its fiscal deficit to 5.1% of GDP in 2012-13, from 5.76% in the previous fiscal. It also hopes to cut its subsidy bill to below 2% of GDP this year. The ministry has argued that...

A rural Indian spending Rs. 22.50 a day would not be considered poor by a Planning Commission whose Deputy Chairman's foreign trips between May and October last year cost a daily average of Rs. 2.02 lakh Pranab Mukherjee's stirring call for austerity tugs at the national tear ducts. Prime Minister Manmohan Singh has pleaded for it in the past and watched his flock embrace it creatively. With the Finance Ministry even...

-The Times of India JAIPUR: The state cabinet on Wednesday approved allotment of nearly 400 hectares land near Sariska to the forest department in return for the land acquired in Jaipur for the Rajiv Gandhi Awas Yojana meant to rehabilitate slum dwellers. Decisions related to Salaries and perks of chairperson and members of the state human rights commission, lawyers' welfare, increase in study leave for doctors and enhancing the policemen's allowances were...

A probe panel of the road ministry has recommended a CBI investigation into allegations of fraud against private contractors involved in the Lucknow-Muzaffarpur highway project. The inquiry committee, instituted by the Ministry of Road Transport and Highways, supported findings of the World Bank Institutional Integrity Unit report, which alleged fraudulent practices and graft by private contractors involved in the Lucknow-Muzaffarpur highway project. The committee, formed in April by minister CP Joshi, recommended...