'No suggestion of salary caps for corporate CEOs by PM'
New Delhi: After Prime Minister Manmohan Singh stirred a hornet's sent by saying that corporate heads should rein in salaries Planning Commission Deputy chairman Montek Singh Ahluwalia on Sunday said Prime Minister Manmohan Singh was not proposing pay cuts or salary caps for corporate honchos during his address to the confederation of Indian industry.

"I don't think he (the Prime Minister) said that we want to cap salaries. I don't think he said that salaries need to be cut down", Ahluwalia told a private news channel, a press release issued by the television news channel said.

The Planning Commission Deputy Chairman said the Prime Minister has said anything that can be "interpreted as disagreeing with the inspirational value of what happens in a growing economy".

He said the government is currently working towards firstly accelerating growth to 9 percent and then making it inclusive.
Back to News Review index page  

Govt issues power codes for commercial buildings
New Delhi: The government has issued energy conservation codes for commercial buildings detailing minimum efficiency standards for external walls, roof, glass structure, lighting, heating, ventilation and air conditioning, which target to bring down energy consumption levels to the tune of 25 per cent to 40 per cent annually. If fully implemented this could yield an annual saving of about 1.7 billion units, according to an official release.

Initially, the implementation of the codes would be voluntary but would eventually become mandatory. The new set of codes would be applicable to all the five climatic zones in the country. However, State Governments would be empowered to amend these codes to suit local or regional requirements.
Back to News Review index page