Ever heard of politicians taking a salary cut? Yes, but it is not happening in India!
The economic recession has hit politicians in Singapore, who are amongst the highest paid in the world. Their salaries will be cut by up to 19 per cent next year.
The Singapore prime minister, who earns more than the American President has set a precedent by taking a salary cut.
Lee Hsien Loong
Singapore Prime Minister Lee Hsien Loong salary of $2.46 million (Rs 123,079,932) is five times higher than that of the Ex-US president George W. Bush. His salary will be slashed to $1.99 million (Rs 99,505,769).
Singapore cut its growth forecast for a fourth time this year and the economy is expected to fall further in 2009.
GDP: $222.7 billion
2. Barack Obama
Barack Obama, the next President of the world's largest economy, the United States of America, will get an annual salary of $400,000 (Rs 20,001,646). Obama has a daunting task of reviving the US economy, which is in the doldrums. GDP: $13.81 trillion
3. Kevin Rudd
The Prime Minister is the highest-paid Member of Parliament in Australia. Australian Prime Minister Kevin Rudd gets a salary of $330,300 (Rs 16,516,332). In the wake of the recession, Kevin Rudd has plans to cut down high salaries in the corporate sector.
GDP:$908.99 billion
3.Nicolas Sarkozy
The French president Nicolas Sarkozy's salary has nearly doubled in 2008. Nicolas Sarkozy's annual salary is now Euro 240,000 (Rs 15,429,191).
GDP: $2.59 trillion
4.Angela Merkel
The Chancellor of Germany Angela Merkel receives 220,000 Euro (Rs 14,138,899) per annum and a 22,000 Euro (Rs 1,413,577) as bonus. Merkel is also known for her criticism of corporate heads taking home fat pay cheques. She is Germany's first woman Chancellor.
Germany's GDP: $3.32 trillion
5.Stephen Harper
The Prime Minister of Canada, Stephen Harper, gets an annual salary of $280,000 (Rs 14,001,129). Media reports say that Stephen Harper's addition of more cabinet members could cost an additional $3.9 million in salaries. And the economy is set to fall into a recession.
Canada's GDP: $1.43 trillion.
6.Gordon Brown
UK Prime Minister Gordon Brown gets salary as the First Lord of the Treasury and as an Member of Parliament. Gordon Brown receives Euro 127,334 (Rs 8,182,944) per annum, in addition to the salary of Euro 60,277 (Rs 3,875,418) as a Member of Parliament. The total salary is about Rs 12,05,8362. UK's GDP: $2.8 trillion
7.Vladimir Putin
Compared to other heads of state, Russian prime minister's Vladimir Putin's salary is on the lower side. He gets an annual salary of $81,190 (Rs 4,060,214).
Putin's wealth has declined as per his declaration of wealth in 2007 with the election Commission. His possessions: Two vintage Russian cars, $149,400 in cash, a small apartment and a plot of land.
Russia's GDP: $1.29 trillion
And India
Pratibha Patil
The Indian government raised the President's salary this year. However, the Indian president's salary is much lower compared to that of other world leaders.
The Indian President Pratibha Patil gets a salary of Rs 150,000 per month (Rs 18,00,000 annually). The vice president's salary is Rs 125,000 per month, while the governors get a pay of Rs 110,000 a month.
India's GDP: $1.1 trillion.
Source: www.webnsn.com
