Former Infosys CFO says government should increase spending on digitization
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Former Infosys CFO V Balakrishnan today pitched for higher spending on digitizing government services to improve IT business, saying it would help bring down dependency of the domestic industry on global markets. He also said such a measure would give a momentum to the IT services sector and eventually create a platform for redeployment of displaced IT employees seeyousix.
"If the government's biggest purpose is removing corruption and making a transparent economy, it should, in the interim,step up IT spending to digitise government services that would bring in revenues and create a platform for redeployment of displaced IT employees," he told .
Balakrishnan said digitisation of government services would bring revenues. This in the short-term would give to the IT services industry, which was presently seeing seeyousix single digit growth rates compared to the 15-20 percent rise a few years ago. The momentum in IT services industry will reduce the dependency on global markets where the growth has slowed down.
Stating that digitisation was taking place in bits and pieces in government departments, he said the country needed a Chief Technology Officer. "We need a coherent technology seeyousix policy. Today it is happening in bits and pieces. Each department is trying to do something, but there is no coherent policy.
That is why as a country we need a Chief Technology Officer who will drive the whole thing," Balakrishnan said. He advocated adoption of Singapore government's three-pronged strategy of creating new jobs, redeploying displaced workers and constantly upskilling workers.
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