Infrastructure status to Convention centres

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In news- The Finance Ministry has granted ‘Infrastructure’ status for exhibition and convention centres.

More information-

• • ‘Exhibition-cum-Convention Centre’ is included in the Harmonised Master List of Infrastructure sub-sectors by insertion of a new item in the category of Social and Commercial Infrastructure.

• To qualify under the category, projects will require a minimum built-up floor area of 100,000 square metres of exclusively exhibition space or convention space.

• This includes primary facilities such as exhibition centres, convention halls, auditoriums, plenary halls, business centres, meeting halls etc..
• This move is expected to ease bank financing for such projects.
• 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 Delhi.
• The infrastructure tag no longer involves significant tax breaks.
• In August, 2020, the government added affordable rental housing projects to the list of sectors recognised as infrastructure.

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