Saturday 17 November 2012

US Fiscal Cliff:: What Effect it Makes on Software Industries

Shares in software services exporters, which derive more than three-fourths of their revenues from the United States and Europe, are likely to be under pressure over concerns of the fiscal cliff in the US and the second recession that has engulfed most countries in the Eurozone.

Fiscal cliff refers to more than $500 billion in tax increases and across-the-board spending cuts that will automatically kick in after January 1 unless President Obama and the Republicans reach an alternative deficit-reduction deal. The sudden taxes and spending cuts may send the weak U.S. economy into a double dip recession, some analysts say.



Some corporates are not ready to commit to long-term IT spending till they have some clarity on the U.S. fiscal cliff as well as what's happening in the Eurozone, Hitesh Shah of IDFC Securities told NDTV Profit on Friday.

FOR MORE INFORMATION HAVE A LOOK HERE http://profit.ndtv.com/news/market/article-how-the-us-fiscal-cliff-may-give-infosys-wipro-an-edge-over-tcs-313357

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