Earlier in the week, the Centre heralded IT sector reforms at a time when the focus of the Indian news media has been on the US Presidential Elections. The reforms have been described in glowing terms by some commentators, who feel they will enable job creation on a vast scale besides freeing the IT and IT-es sectors from harassment by bureaucrats.

Firstly, the registration requirement for Other Service Providers has been ended. The BPO industry engaged in data-related work no longer has to comply with the requirement.

Secondly, requirements such as bank guarantees, static IPs, etc. have been removed

Thirdly, the headache of frequent reporting obligations and the threat of penal provisions have gone.

Fourthly, the industry now has the freedom to implement ‘Work from Home’ and ‘Work from Anywhere’ policies as it deems fit.

Economic commentator Sanjeev Sanyal is extremely confident. Taking to Twitter he wrote, "Mark my words, this will create millions of jobs in next 5 years."