TS to tighten purse strings and cut costs

Hyderabad, Nov 21: Telangana's financial condition is worsening due to low revenue collections and increased interest burden on loans. With the result, the state government proposes to clamped restrictions to curb wasteful expenditure in the balance of this financial year. The government proposes to ban purchase of items like electrical appliances, furniture, printers, computers, photocopier machines, phones, air conditioners, and office vehicles. It further proposes to restrict foreign trips till April 2016. The government is likely to issue a circular to this effect soon. On Friday, Chief Minister K Chandrasekhar Rao is said to have convened an emergency meeting with officials in the CMO and finance department to discuss austerity measures. KCR is believed to have asked all ministers and HoDs to come up with plans on cost cutting. Emphasising on discipline in spending, KCR had asked ministers and officials to cut down on wasteful expenditure on vehicles, fuel and other operational costs.