New tax regime to generate high growth [May 23 2011]

The government is to develop a new tax regime to generate a high growth and investment in the IT / BPO sector. At present the lack of a talented work force is the main impediment faced by the industry.

The country needs to employ at least 500,000 people to develop the industry in the medium term. Therefore steps will be taken to fast rack the development through providing fiscal and other incentives and concessions.