Panel formed to boost domestic IT sector

The Centre said on Thursday it has constituted an expert committee under the telecom ministry to suggest ways to boost indigenous development of hardware and software sector to cut down its import bill.

"An expert committee headed by Union telecom minister A Raja has been constituted which will give its recommendations to provide impetus to the development of hardware and software sector in the country with a view to reduce our dependence on import of such items from various countries including China," minister of state for culture, planning and parliamentary affairs, V Narayanasamy told reporters in Chandigarh.

Stating that the Centre's focus is on promoting the country's IT sector, he pointed out that this move follows the rising import of electronic as well as IT items, including software and hardware, which is expected to reach $292 billion by 2020.

"To arrest this import bill, this expert committee has been formed," the mimister said who was here to attend a function of World Wide immigration consultancy services.

The minister further said that the government has earmarked a sum of Rs 41,900 crore (Rs 419 billion) for generating employment under the National Rural Employment Guarantee scheme and aims to double its beneficiaries.

Last year, 4.5 crore (45 million) people got employment under this scheme, he added. Noting that the farm sector was not performing up to the level of desired expectations, he said the Centre has increased funds for the sector under Rashtryia Kisan Vikas Yojna and Backward Regions Grant Fund to push up the growth of agriculture.

Narayanasamy informed that funds under RKVY has been raised from last fiscal's Rs 3,300 crore (Rs 33 billion) to 5,400 crore (Rs 54 billion) in 2010-11 and the allocation under the BRGF has been also increased from Rs 4,500 crore (Rs 45 billion) to Rs 7,500 crore (Rs 75 billion) for FY'11.