(a) whether the Government has any proposal to provide special tax and tariff exemptions to the multinational players of IT sector which are willing to invest on a large scale in the country;
(b) if so, the details thereof, State-wise including Bihar, Uttar Pradesh and Bundelkhand region;
(c) if not, the reasons therefor; and
(d) the details of mechanism being set up and monitor the said proposal?
ANSWER
MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI ANURAG SINGH THAKUR)
(a) to (d) In the Budget, 2019 presented before the Parliament on 5th July, 2019 vide Para 111 of the Budget Speech, it was proposed that, in order to boost economic growth and Make in India, the Government will launch a scheme to invite global companies through a transparent competitive bidding to set up mega-manufacturing plants in sunrise and advanced technology areas such as Semi-conductor Fabrication (FAB), Solar Photo Voltaic cells, Lithium storage batteries, Solar electric charging infrastructure, Computer Servers, Laptops, etc. and provide them investment linked income tax exemptions under section 35 AD of the Income Tax Act, and other indirect tax benefits.
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