UTI Bosses Save 40% On Foreign Travel

New Delhi, July 28: | Updated: Jul 29 2002, 05:30am hrs
Unit Trust of India (UTI) officials seem to have cut down expenses on their foreign jaunts. The expense on foreign visits has dropped by 40 per cent over the last two years. From around Rs 1 crore (Rs 99,89,419) during the period July 1, 1999 to June 30, 2000 and Rs 90 lakh 37 thousand in July-June 2001, expense on this head is down to Rs 60 lakh (Rs 59,63,117) in the cooresponding period in 2002.

The figures include expenditure incurred on visit of officials to attend the meeting of board of directors of off-shore funds abroad. The trust receives management fees from these funds.

Total publicity expenses incurred by the domestic schemes of UTI also decreased from Rs 43.91 crore in 1999-2000 to Rs 27.55 crore in 2001-02. In 2000-01, publicity expenses stood at Rs 38.40 crore.

The details of UTI expenses on foreign tours and publicity formed part of the finance ministers reply to a starred question in the Lok Sabha.

The minister also said that no case has been entrusted to the Central Bureau of Investigation (CBI) for regular investigation regarding any irregularities either on account of advertisements or foreign tours of officials of the UTI.