Now, Khurshid wants CEOs to lead simple life

Corporate Affairs Minister Salman Khurshid, who yesterday favoured trimming pay packets of India Inc CEOs, today earnestly advised them to lead a simple life, saying "display of affluence is unacceptable".

"A year ago, the Prime Minister indicated that we in this country (are) grappling with enormous issues like poverty etc... We follow the footsteps of Mahatma Gandhi and trying to lead our life with much simplicity," he told reporters on the sidelines of Central Wakf Council meeting here.

Khurshid, who is also Minister for Minority Affairs, said: "Display of affluence is unacceptable... I am not saying it is a rigid framework under which all of us should fall. It is an aspirational matter."

As far as CEOs' salaries are concerned, he said even today there exists a cap, but it should be up to the shareholders to decide what the company heads should be paid.

He had yesterday advised companies against doling out "vulgar" salaries to their respective heads.

At the same time, he said today: "It is simply impossible to say that we will shut our eyes and let anybody do what they please but at the same I cannot say we will bring a regime of control."

He insisted that while the government is not in favour of a control, there should be some regulation. "I am not for control. I am for regulation," Khurshid said.