Help Us by Clear­ing All Past Dues, IT Tells Govt

Nass­com study says cen­tre, state govts owe ₹. 5,000cr to in­dus­try

The Economic Times - - Covid-19 Im­pact: Dis­rup­tion & Tech - Surabhi.Agar­wal

New Delhi: The In­dian IT in­dus­try has asked to gov­ern­ment to re­lease pay­ments, run­ning into thou­sands of crores, owed to it over the

years.

The dues span re­funds with var­i­ous de­part­ments such as In­come Tax and Cus­toms as well as money from cen­tral and state gov­ern­ments for var­i­ous tech­nol­ogy projects. The move comes as the in­dus­try is fac­ing liq­uid­ity con­straints due to the Covid-19 out­break that has led to the on­go­ing na­tion­wide lock­down. Ac­cord­ing to a study by in­dus­try lobby group Nass­com in 2017, the cen­tral gov­ern­ment as well as sev­eral state gov­ern­ments and pub­lic sec­tor un­der­tak­ings owed close to `5,000 crore to the IT in­dus­try for just tech­nol­ogy projects.

In­dus­try ex­perts, how­ever, said the ac­tual out­stand­ing could be much higher. Nass­com has in fact taken up a sur­vey of its mem­ber firms to ar­rive at a fresh es­ti­mate.

There are close to 16,500 IT com­pa­nies with a turnover of `250 crore for whom re­funds are crit­i­cal for sur­vival. The IT In­dus­try Dues and Out­stand­ing Pay­ment Sur­vey will

try to col­late data from a large num­ber of com­pa­nies on all out­stand­ing pay­ments, said Gau­rav Hazra, se­nior di­rec­tor – In­dia Mar­kets – at Nass­com. “Once we have data about the out­stand­ing across var­i­ous gov­ern­ment de­part­ments, states and PSUs, we will reach out to stake­hold­ers where the bulk of the pay­ments are stuck,” Hazra said.

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