Nasscom seeks expedited spending of funds on IT

Tuesday, 17 February 2009, 17:06 IST   |    1 Comments
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Bangalore: The National Association of Software and Services Companies (Nasscom) Monday urged the government to expedite spending of allocated funds on IT projects to stimulate the domestic market. "To drive economic activity, the government needs to expedite spending of allocated funds for IT projects to stimulate the domestic market," the Nasscom said in a statement. Lauding the government for focusing on infrastructure and education, the IT trade forum said it was heartening to see the benefits accruing from state-run projects like 'Project Arrow'. The Project Arrow was launched in May 2008 to revitalise the postal department and develop it into a brand for millions of its customers across the country. The project is under implementation, which will cover 50 post offices in the first phase, 450 in the second and 4,500 in the third all over the country. Though the IT industry did not expect major announcements from the vote-on-account budget, the Nasscom said it would engage with the new government on specific policy initiatives to sustain the industry's growth. "In the interim, there is need for urgently removing the inequities and multiplicities of taxes and procedural issues even before the new government comes in," the statement noted. The Nasscom also wanted the government to free up the bandwidth of companies from these issues so as to enable them to better manage the downturn and focus on business. "This is also important to ensure India remains a preferred partner to do business in the domestic and overseas markets," the statement added.
Source: IANS
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