Narendra Modi`s new austerity drive: No new cars for NDA ministers

Zee Media Bureau/Biplob Ghosal

New Delhi: In yet another move to bring in austerity within his government, Prime Minister Narendra Modi has ordered all the ministers to refrain from buying new cars, reports said on Thursday. As per reports, the PM has also asked the ministers to get an approval from the Prime Minister`s Office for any purchases exceeding 1 lakh rupees. Soon after assuming office as PM, Modi had announced to have a smaller Cabinet in order to avoid unnecessary spendings. The Modi government has been receiving flak for rising railway fare and freight charges by 14.2 percent. The latest austerity move may be viewed as a step to garner public sympathy. In what can be a cause of concern for the new NDA regime, global rating agency Moody’s last week said that Indian economy is exposed to “shocks” on account of high fiscal deficit and the country’s credit outlook will depend on the Narendra Modi government’s initiatives in the next month’s Budget to contain expenditure and reduce exposure to global commodity prices. The Union Budget is expected to be presented in the second week of July.