No job loss in IT in Kerala due to recession: CM | india | Hindustan Times
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No job loss in IT in Kerala due to recession: CM

No retrenchment has been reported in the IT sector in Kerala on account of the global recession, though the downturn could have compelled companies to effect cut in some allowances and benefits, Chief Minister V S Achuthanandan informed the state assembly today.

india Updated: Jun 22, 2009 14:02 IST

No retrenchment has been reported in the IT sector in Kerala on account of the global recession, though the downturn could have compelled companies to effect cut in some allowances and benefits, Chief Minister V S Achuthanandan informed the state assembly on Monday.

It would be natural in recessionary periods to effect some curbs on benefits enjoyed by the employees, but there had
been no large-scale job losses as was feared initially, he said in a reply furnished in the house.

As a support to the companies in troubled times, the units housed in the state-owned IT parks 50 per cent of their
rent for 2009-10 had been deferred to the next financial year.

To another question, he said the Government had offered to hold discussions with Dubai-based Tecom, promoter of the joint venture Smart City IT park in Kochi, to address certain questions raised by them about land leased for the venture.

The lease agreement signed as part of the project initially would have to be renewed to make it valid under the Indian
Registration Act. Tecom had expressed certain apprehensions on the issue of free-hold over the land.

Though the Government had repeatedly assured Tecom authorities that provisions in the framework agreement in this
regard would be honoured, they appeared to be unconvinced. A top government official would hold talks with them to remove their misconceptions, he added.