BUSINESS NEWS

sitharaman announces approval of two proposals of ifsca at gift city in gujarat

Written by admin

sitharaman announces approval of two proposals of ifsca at gift city in gujarat

Gandhinagar, Nov 20 (PTI) Union Finance Minister Nirmala Sitharaman during her one-day visit to Gujarat on Saturday announced the approval of two proposals of International Financial Services Centers Authority (IFSCA) worth Rs 469 crore at GIFT City here.

The finance ministry said Sitharaman announced a formal approval of Rs 269.05 crore for the Supervisory Technology Fund for IT infrastructure and Rs 200 crore for the headquarters building.

He also underlined the commitment of the Union Government to make Gujarat International Finance Tec-City (GIFT City) a world-class fintech hub, as envisaged in the Union Budget 2021-22.

He announced, “Two proposals of IFSCCA have been cleared. One is headquarter of Rs 200 crore, of which Rs 100 crore is loan and Rs 100 crore is grant. The second IFSCA is the Supervisory Technology Fund for IT infrastructure which is Rs 269.05 crore. Both have been approved.

The Finance Ministry tweeted, “The Budget’s IFSC related measures include tax relief on capital gains for aircraft leasing companies, tax exemption for aircraft leasing rentals granted to foreign lessees, for transfer of foreign funds in IFSC. tax incentives and exemptions to investment divisions of foreign banks.

The tweet further said that the Finance Minister was here “to review efforts to develop India as a gateway to global financial services for the corporate world”.

He was accompanied by Minister of State for Finance Pankaj Choudhary and senior officials of the Finance Ministry.

During this, he was also informed about the Bullion Vaulting facility at Gujarat International Financial Technology City (GIFT City).

See also  wazirx: 2,648 pc growth in user sign-ups from tier-2 and tier-3 cities on WazirX

#sitharaman #announces #approval #proposals #ifsca #gift #city #gujarat

About the author

admin

Leave a Comment

close
%d bloggers like this: