Vulgar Salaries - Khurshed

No 'vulgar' salaries please, Khurshid tells India Inc

PTI | New Delhi

Having launched an austerity drive to check public expenditure, the Government has advised India Inc to refrain from doling out "vulgar" salaries to CEOs.

"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," Corporate Affairs Minister Salman Khurshid told PTI when asked how the Government intends to control salaries of CEOs which at times appear vulgar.

Pointing out that salaries of CEOs should be decided by shareholders, he said, "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.

"Minister should not be judging who deserves what salary. We are moving away from control to regulation. But it doesn't mean that you are going to be completely free," he said.

The issue regarding remuneration of company CEOs will be debated by the Parliamentary Standing Committee, which is scrutinising the provisions of the new Companies Bill tabled in the Lok Sabha in August, he said.

"Let's get the opinion of the standing committee (on the Bill), then we will move forward," he said, pointing out that "it's now before the same Parliament that has supported this attitude of austerity ... Let us see what their views are."

The annual renumeration of some CEOs work out to be Rs 50 crore, which is more than 12,500 times the per capita income in the country.

It is refreshing to note the concern of our Corporate Affairs Minister, mr. Salman Khurshed.
I only wish he had uttered these words a year back before implementation of the Pay Commission Awards.
Over 30000 crores have been distributed to government employees.
Why?
They get their salaries and DA besides all the other perks.
The DA takes care of all the variation in cost of living. Then why this bonanza?
When over 40 crore of your population live on Rs 20/- per day why waste this money on a fattened corrupt class.
Mr Kurshed should control these Pay Commission Bonanza besides the high salary of India Inc.
These people take or demand and get raise in salaries as their right but when they have to make sacrifices in the interest of the company, they strike.
The AI pilots are a most recent example.
YES. A DEBATE SHOULD BE HELD AS TO WHY THE PAY COMMISSION AWARDS SHOULD NOT BE ABOLISHED AND THE PAY COMMISSION WOUND UP.