Indian bosses 'warned over pay'

The government is continuing with an austerity drive

The Indian Government has reportedly warned firms in the country not to pay their bosses excessive salaries.

Corporate Affairs Minister Salman Khursheed said the government would not "shut our eyes" to the issue, said news agency Press Trust of India.

The government is continuing with an austerity drive on fears the country's drought will weaken economic growth.

Ministers have described the continuing drought as the worst the country has seen in 37 years.

"I think when we are working on this [austerity], we can hardly say that we [will] shut our eyes on what salary the CEOs are going to take," said Mr Khursheed.

"I don't think anyone in India today, in politics or outside politics... has reached the level of liberalism where vulgarity is also a fundamental right."

E-mail this to a friend

Printable version