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‘Infrastructure’ Status for exhibition and convention centres

  • IASbaba
  • May 20, 2021
  • 0
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‘Infrastructure’ Status for exhibition and convention centres

Part of: GS Prelims and GS – III – Economy; Infrastrcuture 

In news 

  • The Finance Ministry has granted ‘Infrastructure’ status for exhibition and convention centres. 
  • The move is expected to ease bank financing for such projects.

Key takeaways 

  • ‘Exhibition-cum-Convention Centre is included in the Harmonised Master List of Infrastructure sub-sectors. 
  • For this, new item is inserted in the category of Social and Commercial Infrastructure. 
  • These 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: the International Exhibition-cum-Convention Centres at Dwarka and Pragati Maidan, New Delhi 
  • The infrastructure tag does not involve significant tax breaks. 
  • The tag would help such projects get easier financing from banks. 

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