India, s revenue from back-office outsourcing is expected to surge nearly five-fold to $50 billion by 2012 despite a possible recession in the key of succession of United States market, an industry said this. But a skills shortage, creaky infrastructure in small towns, and cities and rapidly rising wages are major challenges. The sector has logged 35 percent annual growth over the last five years to hit annual revenues of about $11 billion, with the bulk coming from exports, said the study by leading IT lobby group Nasscom and consulting firm Everest."We have seen that when there are recessions and when there are costs pressures that come in, the companies still want to cut costs," Som Mittal, president of the National Association of Software and Service Companies, or Nasscom, told reporters. India's back-office firms like Infosys BPO, a unit of No. 2 software firm Infosys Technologies; have thrived by providing Western firms with services such as processing insurance claims, managing payrolls and customer support. The boom in business process outsourcing, or BPO, is built on a large, skilled and cheap English-speaking work force. The sector employs 700,000 people and is expected to provide direct employment to about 2 million by 2012.
Cite this article:
Nagwanshi Nisha . Revenue and Expenditure of Central Government in India. Int. J. Rev. & Res. Social Sci. 3(1): Jan. – Mar. 2015; Page 48-49.
Nagwanshi Nisha . Revenue and Expenditure of Central Government in India. Int. J. Rev. & Res. Social Sci. 3(1): Jan. – Mar. 2015; Page 48-49. Available on: https://ijrrssonline.in/AbstractView.aspx?PID=2015-3-1-13