With dwindling economy union Govt orders 20% cut in overhead expenses

With the Indian economy recording the worst performance in more than 42 years, the union govt has opened up the austerity phase with orders to reduce overhead expenses to more than 20 % limiting unnecessary travel,food and even meetings.

The decision was taken at a meeting chaired by PM Modi at the recent CCIG(Cabinet Committee on Investment and Growth). The minutes of the CCIG meeting was circulated across all ministries and the department of expenses under Ministry of Finance will be monitoring all department expenses. The inflation-adjusted 5 percent GDP in the current fiscal year is the lowest since 1978 and the real bad news is the figures could be overly optimistic given the headwinds bearing down the nation.