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Ex-Infosys CFO bats for higher govt spending on digitisation

Balakrishnan said digitisation of government services would bring revenues

Press Trust of India  |  Bengaluru 

Infosys' ex-CFO V Balakrishnan
Infosys' ex-CFO V Balakrishnan

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 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 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.

First Published: Wed, June 14 2017. 16:24 IST