The IT/ITeS industries have added 7.96 lakh jobs in the Indian economy during the one year period ending September 2011, according to the Economic Survey 2011-12.
However, FY 2011-2012 witnessed a drop in hiring in the IT industry while ITeS remained robust with a rise in the number of jobs.According to the Timesjobs.com RecruiteX Quarterly Report (Jan-Mar 2012), the IT industry index dropped 13 points compared to the 5 point rise in the overall index. ITeS, on the other hand gained 17 points in the same period. The ITeS industry weathered the slowdown with a strengthening of the business in the domestic market, say experts.
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TimesJobs.com asked the industry experts from IT/ITeS segment to share their Budget 2012 expectations. The wish-list focused on the following key areas:Increased fund allocation for digitization programsIncreased focus on e-governanceFavourable allocation of funds for ICT in education sectorEvolved security system to fight cybercrimeOther than these, there are individual expectations also from the budget. Salil Godika, Chief Strategy Officer, Happiest Minds Technologies, expects "This year's Union Budget to bring back business confidence. While January and February 2012 have sparked confidence in the stock markets, there is a sense of it being short-lived. As evidenced by recent GDP numbers, growth of 7-8% is no longer a foregone conclusion. Government needs to balance out the subsidy and tax collections."
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Prashant Bhatnagar, Director-Hiring of Sapient India said "The key area of focus for the IT sector in the upcoming budget would be the stabilization/ rationalization of taxes so that these funds can be used for R&D and also retaining the talent in the company. From an indirect tax perspective, a clear-cut and rational timeline for the implementation of Goods and Services Tax is hoped for in this Budget. Also, the rate of service tax, excise duty and MAT should be maintained."Many are also lobbying for re-introduction of Software Technology Park (STP) tax holiday scheme especially for small and medium enterprises, which was not granted an extension in Budget 2011.Post-Budget Outlook Overall, the Indian IT companies are likely to remain cautious while hiring in 2012. However, the fulfilment of the IT/ITeS industry Budget 2012 expectations will possibly result in increase in fresh hiring of IT professionals in urban and rural areas.Representing IT companies, Sudhanshu Pandit, Director-Human Resources (India), Symantec Corporation, stated that today Indian technology companies are global in their overall outlook. Therefore, the sentiment in the global marketplace does have a strong impact on their business. Java Training Courses
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