E-PaperSpending Cut News
Buffaloes, BMWs and free lunches end in Pakistan austerity drive
A fleet of luxury govt cars, helicopters are being sold, officials no longer get full meals at meetings, only cookies, and last week 8 buffalo housed at the premier's official residence were added to the auction block
3 min read19 Sep 2018Yes Bank said to cut 12% of jobs to lower expenses, push technology
Yes Bank has cut about 2,500 jobs, mostly in the sales team, to lower expenses and push technology amid an industrywide lending slump
1 min read21 Sep 2017In a first, railways set to adopt reverse bidding method for high-value orders
The move is aimed at increasing competition for supplying goods and services to Indian Railways and cutting spending substantially
1 min read9 Sep 2017Baidu beats estimates as it curbs spending on loss-making units
China's largest search engine Baidu reports better-than-projected 83% leap in net income after the company's general and traffic acquisition costs shrink
3 min read28 Jul 2017Donald Trump budget proposes deep US spending cuts in Mexico, Central America
Donald Trump's 2018 budget proposal, seeking to trim $3.6 trillion from government spending over the next decade, envisages steep cuts in US foreign aid
2 min read24 May 2017Donald Trump sending US Congress $4.1 trillion budget
President Donald Trump is sending the US Congress a $4.1 trillion spending plan that relies on faster growth and steep cuts to initiatives for low-income individuals
4 min read23 May 2017Saudi Arabia plans defence holding company under wealth fund
The Public Investment Fund is creating a nine-member board to oversee a holding company that will invest in defence companies
4 min read26 Apr 2016Oman cuts 2016 spending in light of low oil prices
Spending is projected at $30.9 bn in 2016, revenues projected at $22.3 bn, down by 26% from 2015, resulting in an $8.6 bn deficit
1 min read1 Jan 2016Saudi Arabia plans spending cuts, reforms to shrink huge budget deficit
The 2016 budget plan aims to cut spendings to 326 billion riyals, reducing pressure on Riyadh to pay its bills by liquidating assets held abroad
2 min read29 Dec 2015Govt announces austerity measures to narrow deficit
10% cut in non-Plan expenditure for the current fiscal year
3 min read31 Oct 2014Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared