I feel its very good decision. Now a days cost of land and buildings are going up mainly by IT sectors only. Since they are paid more salary.
They are ready to buy the things they want at any cost. Because of these people working in other jobs are not finding it difficult to manage their life.
For example,
there are 3 peoples like to take a rent house. Only 2 house is available at that time. The person who is ready to give more rent will get that house. Now think about the third person and his life position.
So cutting of salary for IT people is good for our economy.