Finance Minister in right direction!

NEW DELHI: Just as it's getting to the time when most politicians, especially ministers, would be planning media blitzkreig through ads in newspapers, magazines, hoardings and TV commercials, there's bad news from the Finance Ministry. Playing party pooper, the Finance Minister has sent out the message - elections or no elections - the government has no surplus money to waste and hence it is time for austerity. In order to meet the cash crunch, the Finance Ministry has for the first time, ordered putting brakes on expenditure on publicity. Ministries are now required to regulate advertisements and publicity campaigns, according to Times Now. Also under the axe are budgets for purchase of new vehicles, maintenance, new furnishings and furniture for government offices and residences. There is also a serious cut imposed on the number of conferences and seminars held by ministries. The FM has also put a cap on foreign travel by officials and goodwill trips by ministers barring the PM, President, Vice President and Lok Sabha Speaker. He has also slapped an across the board 5 per cent cut in Non-Plan expenditure or what is avoidable expense. This featured among the issues discussed in a meeting between Finance Ministry and financial advisers of all ministries earlier this week The meeting also set in motion what is called a pre-Budget exercise but the officials were also told to be prepared for a Vote-on-Account The Finance Ministry has ordered that ministries will only be given 33 per cent of budget allocations to spend in the last three months of the budget year January- March 2008. He has also ordered a complete freeze on money transfers to states until they finish money already given to them.
Courtesy : Economic Times of India

Really the way our FM thinks, if all the minister's in the cabinet think the value of spending Public money before spending! surely, our budget deficit will be reduced to Nil level. At the same, time we would like to bring to the attention of law makers that, they should frame a scheme in which the previous year's spending should be reveiwed currenty year by which avoidable expenses can be reduced in the coming years! ofcourse, this type of excercise are done in most of the corporate body! it is time to think the similar view for Governance too to have healthy & wealthy management of fund!