The massive financial irregularities in Satyam Computer Services has forced the Nasscom to defer its revised forecast on the IT industry growth for FY09 'as the financial figures of the IT bellwether were in dispute’.
“Now that the numbers of Satyam are still in dispute, it will be unfair to come out with a revised forecast. As soon as we get clarity on the figures, we will revise the guidance for the industry as a whole,” Nasscom Chairman Ganesh Natarajan said here on Thursday.
Nasscom had earlier projected the growth of the Indian software sector to be in the range of 21-24 per cent in FY09. However, in the light of the global financial meltdown which had a major impact on the IT industry, the industry body had decided to revisit the numbers.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app