New Delhi, March 11 (IANS) A tax holiday granted to the hotel industry has been extended by three months to speed up the completion of the Commonwealth Games hotel projects that had slowed down due to the global economic recession.
"To encourage the growth of new hotels coming up for the Commonwealth Games, the ministry of finance in the recently announced union general budget has extended the Five Year Tax Holiday available to 2, 3 and 4-star category hotels and convention centers in and around Delhi and the districts of Faridabad, Gurgaon, Gautam Budh Nagar in Noida and Ghaziabad from March 31, 2010 to July 31, 2010," a tourism ministry statement said Thursday.
"This financial incentive was earlier available during the period April 1, 2007 to March 31, 2010. This incentive has been extended by the government to encourage the completion of the Commonwealth Games hotel projects which
had slowed down due to the overall global economic recession," it added.
Tourism minister Kumari Selja said: "The announcement of the government during the budget speech has created an economic environment which is conducive for the growth of the tourism and hospitality sector in the country."
| Other Articles: |
 |
Forbes says Gates no longer the world's richest (11th Mar, 2010) |
|
Late rally helps Sensex end 113 points up (11th Mar, 2010) |
|
Google says it is prepared to leave China if censoring continues (11th Mar, 2010) |
|
Jharkhand's per capita power consumption half of national average (11th Mar, 2010) |
|
Richest Indian Mukesh Ambani amongst Forbes top ten Billionaires (11th Mar, 2010) |
|
Domino's opens 300th store in India with appetite for more (11th Mar, 2010) |
|
Pulses, potatoes, milk keep food inflation up (11th Mar, 2010) |
|
US stocks gain on financial firms (11th Mar, 2010) |
|
Mexican Carlos Slim tops world's rich list (11th Mar, 2010) |
|
Sensex starts off weak (11th Mar, 2010) |
|
Mukesh Ambani, Lakshmi Mittal among world's top ten billionaires (11th Mar, 2010) |
|
Cabinet clears $2.35 bn for Russian aircraft carrier (11th Mar, 2010) |
|
India-Arab trade fell in 2008-09: Scindia (11th Mar, 2010) |
|
CII pitches for defence park in Tamil Nadu (11th Mar, 2010) |
|
No freehold rights to Smart City Dubai for Kochi IT Park (11th Mar, 2010) |
|
Now watch IPL matches live in cinema halls (11th Mar, 2010) |
|
India invites investment in food processing (11th Mar, 2010) |
|
Ceat not to lower tyre prices (11th Mar, 2010) |
|
15 cases of dumping of Chinese products being probed (11th Mar, 2010) |
|
Thermax inks deal with US firm for supercritical boilers (11th Mar, 2010) |
|
Sensex ends flat after quiet day of trade (10th Mar, 2010) |
|
Haryana's per capita income to rise in 2010-11 (10th Mar, 2010) |
|
SAIL plans to double steel production by 2014 (10th Mar, 2010) |
|
Vikram Solar invests Rs.100 crore in green power (10th Mar, 2010) |
|
Sensex closes flat (10th Mar, 2010) |
Today : Thursday - May 24, 2012, 07:27pm (GMT+5.5)
