FinMin grants ‘infrastructure’ status for convention centers

The Finance Ministry has granted ‘Infrastructure’ status for exhibition and convention centers, a move that is expected to ease bank financing for such projects. ‘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,’ the Department of Economic Affairs said in a notification.
However, the benefits available as ‘infrastructure’ projects would only be available for projects with a minimum built-up floor area of 1,00,000 square metres of exclusive exhibition space or convention space or both combined. This includes primary facilities such as exhibition centers, convention halls, auditoriums, plenary halls, business centers, meeting halls etc.