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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (802)	2/21/2000 8:38:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

Indian Govt to Levy Cess on IT Firms to Upgrade Colleges Tuesday, February 22 8:07 AM SGT NEW DELHI, Feb 22 Asia Pulse - The Indian Government said it would upgrade 43 Regional Engineering Colleges to Indian Institute of Technology (IIT) levels and consider levying a cess on infotech firms to fulfil trained manpower requirements of the country. "There are 43 Regional Engineering Colleges and we want to upgrade these to the IIT level, at minimum expenditure and in the shortest possible span," federal Minister of Information Technology Pramod Mahajan said Monday, adding that a sub-committee would soon be formed to advise on this matter. He said in order to promote IT education and training, the industry has suggested that the government levy a cess, the proceeds of which would be used to sponsor IT education. "In their suggestions, industry representatives have in fact asked the government to levy a cess whose proceeds could be used for setting up an IT education fund," Mahajan said. Answering questions on the government's initiatives in IT enabled services, he said "we have recommended that 2-3 per cent of the government's budget allocation should go towards computerisation of all its departments". On the disparate growth pattern being shown by hardware and software sectors of this industry, the minister said "the present IT excitement is restricted to software, but hardware is also an important arena. India will become IT self-reliant only when hardware sector prospers". -(PTI) via Dow Jones