Budget provides Rs 70 cr for IT sector

Thiruvananthapuram, Mar 9 (UNI) The Kerala budget for 2007-08 gives a major thrust to Information Technology-based industries by making a provision of Rs 70 crore for various it projects.

Presenting the budget in the State Assembly today, Finance Minister T M Thomas Isaac said a sum of Rs 43.74 crore had been earmaked for various projects to be implemented by the IT Mission in association with local bodies.

He said the 'Akshaya' IT literacy programme being implemented by the IT Mission would be recast.

The budget had set apart Rs 13 crore for the construction of a new building in the Technopark here and Rs ten crore for starting small scale IT parks outside the city and Kochi.

Opening of an international centre for Free Software and an Indian Institute of Technology and Management in the Technopark were the other proposals for which a sum of Rs 1.01 crore had been earmarked.

Dr Isaac said a new company would be formed with investment from Non-Resident Keralites for the development of infrastructure for IT-based industries for which a token provision of Rs ten lakh had been provided in the budget.

UNI