Business Daily from THE HINDU group of publications
Saturday, Oct 31, 2009
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Business Daily from THE HINDU group of publications Saturday, Oct 31, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Economy Ministries may prune expenses further Our Bureau New Delhi, Oct. 30 The Central ministries may further prune expenditure on the non-Plan side, while paying increased attention to their priority areas in the coming days. The need to prioritise expenditure and keep them within budgetary limits was emphasised at a meeting that the Union Finance Minister, Mr Pranab Mukherjee, had with Financial Advisors of various Central Ministries here. “The focus (of the meeting) was to keep expenditure under control and also the fiscal deficit under control,” Mr Sutanu Behuria, Financial Advisor to the Commerce Ministry, told reporters after the meeting. Financial Advisors were asked not to create situations of additional borrowing (for the Government), Mr Behuria said. As part of annual austerity measures, the Finance Ministry had already advised cut in non-plan expenses for fiscal 2009-10 by 5-10 per cent on various heads. The Centre’s fiscal deficit for 2009-10 has been pegged at 6.8 per cent of Gross Domestic Product (GDP) as against 6.2 per cent for the previous year. More Stories on : Economy
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