"These measures include ban on the creation of posts, reduction in number of sanctioned posts, restrictions on filling up of vacant posts, reduction in office expenses, restrictions on purchase of vehicles, restrictions on foreign travel and on entertainment/ hospitality expenses, mandatory 10 per cent cut in budgetary allocation for non-plan, non-salary expenditure," he said.
He said that at present, the liquidity availability in the economy, including the banking sector was adequate. "This is reflected in the excess liquidity placed in reverse repo under the liquidity adjustment facility of the Reserve Bank of India, which ensures appropriate liquidity to meet the legitimate credit needs and supports investment and export demand in the economy," he said.
He said government has changed foreign aid policy and now bilateral development assistance would be accepted from all G-8 countries, as well as from European Union as against six development partners in the erstwhile policy, namely UK, US, Japan, Germany, Russian Federation and European Commission.
"Further such assistance will also be accepted from non G-8 European Union countries providing a minimum bilateral aid package of $25 million per annum to India," he said.
Other countries not covered by the above policy may continue providing bilateral assistance directly to autonomous institutions, universities, NGOs.
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