'Spend allocated IT proj funds soon'

Bangalore, Feb 17: To boost the economy, National Association of Software and Services Company (NASSCOM) requested the government to speed-up the spending of allocated funds on IT projects. In a statement released on Tuesday, Feb 17, NASSCOM said, "to drive economic activity, the government needs to expedite spending of allocated funds for IT projects to stimulate the domestic market." The IT trade forum praised the government for focusing on infrastructure and education.

The organisation said that it did not expect any major sops from the government during the interim Budget 2009. "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. NASSCOM said it will urge the government to free the companies from such issues so that they could fight global slowdown 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.

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