Why Engineering Faculty Degrading themselves?

I don't understand the reason behind the engineering colleges deducting the salaries in the name of Recession. Does recession really affect education in any manner? Does engineering colleges have reduced the amount to be paid in the form of fee? Are the students (or say, government of Andhra Pradesh)paying less towards the annual fee?
When the answer is a sure "NO". Then, why deductions in salaries of the employees working in engineering colleges?
Is it because the software employees who were issued pink slips in their respective companies trying to join engineering colleges as faculty? The answer is still a no. Then what could be the reason?
To me, it seems we the post graduates in engineering are degrading ourselves by accepting the offer for a lesser salary. I am surprised to see people willing to work for salaries lesser than 10,000/- Indian Rupees. Even, the daily waged labour will also resist to work if he is not given the amount he charges towards his services. Then why should we degrade ourselves?
Now-a-days we are just after surviving. There exists no chance and scope to save money. The prices are high due to inflation. It is foolish attempt to save money in such circumstances.
One of my colleague said me, " I am unable to save money these days and making loans every now and then."
I replied that, you are atleast surviving and earning your daily bread. If you have a desire to save money or make more money, you are inviting troubles.
So, in such pathetic conditions, I know it is definitely very hard to get a good job with a lucrative salary and to save the job earned is still more difficult as there is no guarantee or security. Still there could be one hope if all of us (Engineering Post Graduates) resist to work for a lesser salary. We will feel united atleast in this way as a daily waged labour do.