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Seemingly unfazed at being ousted from the Asian Athletics Association, scam-tainted Suresh Kalmadi on Monday said losing the presidential re-election bid to Qatar’s Dahlan Jumaan Al-Hamad has actually given him a chance to work at the “grassroots” level.
“I have no issues today and I congratulate Mr Al-Hamad for being elected as President. I am rather relieved that I will be able to work at the grassroots level in athletics,” Mr. Kalmadi said after losing the vote during the ongoing AAA Congress in Pune.

International News
 

British government to unveil new measures to limit public spending

Monday - Apr 23, 2012, 06:46pm (GMT+5.5)
[+] Text [-]

London -  Britain is to unveil new rules to further limit public spending as part of the government's efforts to meet its austerity targets.

Under the new rules, government departments will have to set aside 5 percent of their annual budget to cover unexpected expenses in a bid to discourage them from asking for more money  from the central government when emergencies arise.

Meanwhile, government departments will have to report their books to the central treasury each month to improve financial management.

Treasury Minister Danny Alexander is to talk about the new rules in a speech to the Institute of Fiscal Studies think-tank on Monday.

The new rules, due to take effect this year, are intended to help Britain keep control of its finances, retain the credibility of world markets and hold down its low borrowing costs, according to  a statement released by the minister's office.

The coalition government has declared to stick to its austerity plan set in 2010 when it came into office, despite criticism that the austerity plans are worsening a fragile economy.

Official data on Britain's economy for the first three month this year will come out on Wednesday, which will reveal whether or not Britain is in recession following a 0.3-percent contraction in  the last quarter of 2011.





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