Exhibition and conference centres have been given ‘ status by the Finance Ministry. The move is expected to make it easier for banks to finance such projects.
The harmonised master list of infrastructure sub-sectors includes the Exhibition-cum-Convention Centre.
A new item has been added to the category of Social and Commercial Infrastructure to reflect this.
These advantages will be applicable only to projects with a minimum built-up floor area of 1,00,000 sq. m. of exclusive exhibition space, or conference space, or both coimbined.
The main projects being carried out in this field so far are: International Exhibition and Conference Centers in Dwarka and Pragati Maidan in New Delhi.
The infrastructure tag does not involve major tax deductions.
The tag would make it easier for such projects to obtain bank funding.