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Bangalore March 1 The Finance Minister's announcement of a scheme to provide Rs 33-crore fund for manpower development in the software sector needs to be studied with a magnifying glass, but the industry has welcomed it as the first step in the `employability direction.'

Mr Madan Padaki, Co-founder and Director, MeriTrac Services, the country's largest skills assessment company active in the IT sector, said that though Rs 33 crore may seem like a small amount, this could be initially used in select engineering colleges to start `finishing schools' and not actually create a new infrastructure.

"The Ministry of Information Technology has been talking of starting 10 finishing schools across the country. This could be a first step in that direction."

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`First step in employability direction'

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