ALSO READAppoint interim chairman to talk to Infosys founders: Ex-CFO V Balakrishnan Infosys former CFO Balakrishnan demands shares buyback Former Infosys CFO V Balakrishnan launches fintech firm named billionloans Infosys paying Rs 13,000 cr to shareholders is too little: Ex-CFO From pay package to Panaya acquisition: What Infosys crisis is all about
Former Infosys CFO V Balakrishnan on Wednesday pitched for higher spending on digitising 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 the redeployment of displaced IT employees. "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 the redeployment of displaced IT employees," he told PTI. Balakrishnan said digitisation of government services would bring revenues. This in the short-term would give a momentum to the IT services industry, which was presently seeing single digit growth rates compared to the 15-20 per cent 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 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 the adoption of Singapore government's three-pronged strategy of creating new jobs, redeploying displaced workers and constantly upskilling workers.