The Union Finance Ministry has granted ‘Infrastructure’ status for exhibition and convention centres.
- According to the Department of Economic Affairs, Exhibition-cum-Convention Centre was included in the Harmonised Master List of Infrastructure sub-sectors by insertion of a new item in the category of Social and Commercial Infrastructure.
Eligibility
- The benefits would only be available for projects with a minimum built-up floor area of 1,00,000 sq. m. of exclusive exhibition space or convention space or both combined.
- As of now, the major projects under way in the sector are backed by the government – the International Exhibition-cum-Convention Centres at Dwarka and Pragati Maidan in the capital.
Benefits
- Although the infrastructure status does not involve significant tax breaks yet it would help such projects get easier financing from banks. .
- It will allow promotion of projects and continuity of construction for the specified sub-sectors
