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Indian Government Urged To Give Tax Breaks To Boost ITCs

by Mary Swire, for LawAndTax-News.com

18 August 2008


The Federation of Indian Chambers of Commerce and Industry at the weekend called on the government to introduce a package of reforms to boost Industrial Training Centres (ITCs).

In a submission, FICCI called for the granting of a ten year tax holiday, for excise taxes to be waived on the purchase of training equipment and machinery destined for such centres, and for increased investment in training and educational opportunities for personnel working in this area.

The industry body cautioned that if such moves were not made, a nationwide skills shortage could hamper economic growth.


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