Forty Years Ago, October 27, 1978: Against Indira

Congressmen opposed to the pro-Indira Gandhi attitude taken by the Parliamentary Board were planning a national convention and a meeting was likely to be held on November 3 in Delhi to consider the situation.

By: Editorial | Updated: October 27, 2018 12:01:51 am
forty years ago, Indira Gandhi government, RBI, CEO salary cut, indian express editorial The front page of The Indian Express on October 27, 1978.

Congressmen opposed to the pro-Indira Gandhi attitude taken by the Parliamentary Board are planning a national convention next month. A meeting is likely to be held on November 3 in Delhi to consider the situation created by the high command decision virtually supporting Mrs Gandhi in the Chikmagalur byelection. This move is considered by several prominent leaders as a surrender to authoritarianism. Among them are A K Antony, who has announced his decision to quit Kerala chief ministership in protest.

Gold Stop

The government ordered the RBI to immediately suspend auctions of gold from its stocks, pending a review of the gold sales policy. The decision to suspend the controversial auctions was announced after a meeting of the Cabinet and detailed consultations among the PM, finance minister and RBI governor I G Patel, who flew to Delhi to discuss the gold policy.

Mrs Gandhi Rejected

Mrs Indira Gandhi’s application for her inclusion as a voter in Doddaballapur in Bangalore district had been rejected by the electoral registration officer on the ground that she was not a resident of the area. Official sources here said that the application was submitted through R L Jalappa, a voter of Doddaballapur, earlier this year.

CEO Salary Cut

The Union cabinet has decided to order a cut in the salaries and perks of private sector top bosses. The executives of the private sector companies will not be allowed now to draw more than Rs 72,000 a year in salary and commission in the companies’ profits besides up to Rs 60,000 worth of perquisites such as provident fund, gratuity, superannuation benefits, medical expenses, etc. At present the managing executive directors of private sector companies get as much as Rs 90,000 a year in salary.

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