Effects
There has been both positive and negative effects of software industry's tremendous growth. The per capita income of state has risen. The software engineers of the current generation earn salaries at the beginning of their career more than what their parents used to earn at the end of their career. This affluence can be seen with young engineers flaunting new electronic gadgets. Cars once considered a luxury has become a commodity, often leading to traffic jams and unavailability of space for parking. More people are traveling abroad for work as well as for tourism. Growth in income has had an effect on the real estate prices with the land rates skyrocketing. Land prices have shot much beyond rate of inflation and in some places rate of land doubles every two years. Agriculture has slowed down as people find it more lucrative to sell the land rather than use it for agriculture. The surge in income of software professionals has led to increased interest among youth opting for computer science and information technology courses in college. The basic science, arts and commerce fields have felt a shortage of quality manpower. The current global recession of economy has hit software industry with some losing their jobs.
Read more about this topic: Software Industry In Karnataka
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