Concept Consultants

Nasscom-Deolitte study on Indian IT industry says that the IT Industries have contributed 5.2 percent this year as against 1.2 percent in 1998. The main findings were that the industry also contributed to foreign exchange reerve of the country by increasing export by 36 per cent.
The study said that in 2008, the direct employment from the industry is expected to be around 2 million about 26 per cent growth in last ten years, The study also shed light on few other aspects also according to the study 75 per cent of the workforce employed in these jobs are SSC/HSC or less educated. The industry has had a multiplier effect on other sector of the economy. $15.85 billion spent by the IT/ITES industry in the domestic economy in 2006 generated an additional output of $15.5 billion.

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1) Bank Rate kept unchanged at 6 percent.
2) The reverse repo rate and the repo rate unchanged at 6 percent and 7.75 percent, respectively
3) CRR kept unchanged at 7.5 percent.
4) GDP growth projection for 2007-08 is 8.5 percent.
5) The policy endeavour would be to contain inflation close to 5 percent in 2007-08 while conditionig expectations in the range of 4-4.5 percent.
6) Loan growth slows; but money supply and aggregate deposits continue to expand well above indicative projections

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