New Delhi: Government departments have been banned from holding meetings in 5-star hotels and officials barred from executive class air travel as part of a slew of austerity measures announced today

In an election crucial for Greece, Europe and the world, exit polls on Sunday showed the two top contenders in Greece to be neck-and-neck.

The outcome of Sunday's vote could determine whether Greece

The government announced a series of austerity steps on Thursday, including a 10 per cent cut in non-plan expenditure for fiscal 2013, which analysts said were not enough and would not have much impac

Launching an austerity drive to contain expenditure, the government on Thursday banned creation of new posts in its departments and holding their meetings in five-star hotels besides imposing curbs on

Government may slash spending on foreign travel by ministers and officials and on meetings in five-star hotels as part of austerity measures to cut down on budget deficit in view of the tight econom

Finance minister Pranab Mukherjee told Parliament Wednesday the government would have to resort to 'unpopular austerity measures' given India’s fiscal problems and with international oil prices rising

Greece's two main pro-austerity parties suffered major losses in elections on Sunday, exit polls showed, throwing into doubt the eurozone country's commitment to meeting the tough terms of its two bai

The Dutch government information service says that Prime Minister Mark Rutte and his Cabinet have resigned after failing to reach agreement on reducing the country's budget to meet European guidelines

Greek police on Sunday fired tear gas at petrol bomb-throwing protesters outside parliament, where tens of thousands had massed in a rally against austerity plans being debated by lawmakers.

Police s

Greek coalition leaders failed to reach a deal on austerity cuts early Thursday but Prime Minister Lucas Papademos remained hopeful of an agreement before Eurozone finance ministers meet later in day.