It is true that in India it is not economical to the IT outsourcing. Being the reason the Government lands & Prima areas were in the hands of politicians and with Black money they Build Huge complexes & the rentals are very high. Now the rentals are prohabitive to carry the competitive IT outsourcing from India. the 2nd reason is Rupee stregthening. 3rdly the Urbanisation without infrastructure facility. 4th the Government & Parlaiment Banking Commitee members asked banks to put Real Estate in discouraged loans list. This prompted the Politicians to channel their Black money into the Real Estate. Real Estate Companies they enter into the agreement with the land lord in each city like wise in 50 Cities, with that they go to Venture funds( ie Politians funds ) and finally they come out with Rs10 share with a premium of Rs 690 or so. Even Finance Minister operates through Kammath of ICICI. Each state became a family bussiness. Tamil Nadu Karunanidhi, Andhra YSRAjasekar redddy, Karnataka Goda family, UP Mayawathi, Bihar Lalu P Yadav etc., In India the Politicians & their relatives assets to be confiscated and execute them then only the peace for the poor people. otherwise the people have to bear the unrest.
Black Money in the real estate is the root cause. If govt mandates selling of all the real estate properties through auctioning, black money can be completely eliminated. This is going to bring down the property prices. Once the property prices comedown, companies can convince IT employees to take a pay cut. Now IT employees are spending most of their income on rents or mortgage etc.
Eliminating the black money in the society can fix most of the problems in our society. It make India a very strong player in the global economy.
People doesn't know where to hide their black money. They can't invest in stocks, They can't deposit in Banks. The only alternative for people to hide thier black money in Real Estate.
With the way things are moving, god also can not save the country from Black Money.
the central govt took IT industry as granted and failed to look into infrastructure costs and never planned or invested to improve IT infrastructure rather UPA govt were planning to bring quota in IT sector too
