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Tuesday, May 5, 2009

Obama : No To Bangalore

The US President Barrack Obama said his administration will remove the tax benefit given to the companies which outsource their work. Instead, he said there would be tax benefit for the companies, which do their works in US itself. He also said that by doing so they can collect a tax of nearly 28,000 million in ten years. Anyway, the economists in the US are of the opinion by doing so the cost of companies will rise to a dramatic level leading to more losses in their profit.

Many US companies that outsource their work to India, to reduce the cost are also concerned like the outsourcing companies in India with the new development policies of Obama after the restriction in H1 visa policy.

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