Word: budgetable
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MUMBAI, India - In the days after the Indian elections on May 16, until the finance minister’s speech on July 6, the nation discussed only one subject: the budget of the incoming government. The Congress Party, reelected to power after holding office for the past five years, had won a large enough majority of parliamentary seats to create a governing coalition free of leftists—like members of the Communist Party—who had slowed market reforms in the past. The new government, more moderate and centrist in composition than in its past term, won such...
...reforms. The economy is still hampered by strict government regulation and distorted by enormous government spending, and though regulation and spending are understandable reactions to the global economic crisis of the last year, Indians were rightly expecting the continuation of the reform agenda in this year’s budget...
...India, the Congress Party’s budget announcement has come to be one of the defining moments of the fiscal year (which ends in March). In a still heavily regulated economy, government action on major economic issues can have a profound impact on the nation, attracting foreign investment and fueling rapid growth. Thus, every newspaper and television station provided special coverage on the budget for the month preceding the announcement. Publications issued countless surveys, and every business leader offered their recommendations and predictions...
...laugh. The City College of San Francisco is considering selling the naming rights to nearly 800 endangered classes. The 105,000-student institution gets most of its funding from the state government, which is grappling with an estimated $27 billion budget deficit. The school has already imposed a freeze on new hires and cost-of-living adjustments to employees' salaries. Faced with an estimated $25 million budget deficit, the school's chancellor, Don Griffin, has proposed eliminating 800 of the school's roughly 9,800 classes for this fall. Last month, however, he proposed a novel potential solution: saving...
...school that has been especially aggressive in corporate sponsorships is Central Piedmont Community College in Charlotte, N.C. Shortly after taking over as Piedmont's president in the early 1990s, Tony Zeiss faced a budget crisis. "You either figure out how to generate alternative revenue streams, or complain," he recalls thinking. "We decided to become entrepreneurial." He sold the naming rights to laboratories, buildings and eventually four of the school's six campuses. Then he sold the naming rights to individual classes. But it became less time consuming and more profitable to solicit sponsorships for entire academic programs. One result...