The Finance Ministry on Thursday Oct 30,2014 ordered a mandatory 10 per cent cut in the Centre’s non-Plan expenditure for 2014-15.
The cut does not cover interest payment, repayment of debt, defence
capital, salaries, pension or Finance Commission grants to States, says a
circular.
Subsidies will face the brunt of the cuts.
Note
The UPA government too had in place austerity measures. For 2013-14, former Finance Minister P. Chidambaram rolled out cuts of 15 per cent on average across both Plan and non-Plan expenditures.
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