In economics, austerity is when a national government reduces its spending, to pay back creditors. Austerity is usually required when a government's fiscal deficit spending is felt to be unsustainable.
Going by the above definition of AUSTERITY, let us not call this populist gimmick by Political leaders as Austerity. I do not support, so called Austerity for the following reasons,
- As I believe Politics is a business, and like any business it’s nothing but marketing to get attention.
- If a VIP (Rahul Gandhi...etc..) travels by train or economy class along with a group of security team, they are causing a lot of inconvenience to a common man in the name of austerity.
- I do not know how much amount the Government will save in doing this (in my rough estimate it will not cross Rs.100 crores, if done by 100% ministers for 5 years). Thus this will have no impact on the government’s annual expenditure of more than Rs. 900 lacs crores. If leaders are really serious in reducing government spending and saving money, they can contribute by ensuring proper implementation of all government spending/projects without personal interest in Money, People and Place.
I agree completely.
ReplyDeleteI would recommend that let us give them more in terms of reimbursement.... but at least they do their job well and work like manager / leader towards betterment of country / their portfolio.
Their could be annual mandatory review of the performance and if not find suitable they would be removed from the portfolio and will be given another portfolio for at least 2 years. The basis of review should be on the pre-decided annual action item.