<p>Finance Minister Nirmala Sitharaman on Friday said the tax sops announced in the recent budget will give traction to the international financial sector in GIFT City.</p>.<p>Speaking at the India Aircraft Leasing Summit, she said the government has rapidly built on the International Financial Services Centre (IFSC) owing to its cost-effective feature.</p>.<p>"The package announced through the budget is to give traction to the international financial sector in GIFT City," Sitharaman said.</p>.<p>Sitharaman in her 2021-22 Budget speech had said that the government is committed to make the International Financial Services Centre (IFSC) in GIFT City a global financial hub.</p>.<p>"In addition to the tax incentives already provided, I propose to include, among others, tax holiday for capital gains for aircraft leasing companies, tax exemption for aircraft lease rentals paid to foreign lessors; tax incentive for relocating foreign funds in the IFSC; and to allow tax exemption to the investment division of foreign banks located in IFSC," she had said.</p>.<p>Gujarat International Finance Tec-City (GIFT City) is the country's only international financial services centre.</p>
<p>Finance Minister Nirmala Sitharaman on Friday said the tax sops announced in the recent budget will give traction to the international financial sector in GIFT City.</p>.<p>Speaking at the India Aircraft Leasing Summit, she said the government has rapidly built on the International Financial Services Centre (IFSC) owing to its cost-effective feature.</p>.<p>"The package announced through the budget is to give traction to the international financial sector in GIFT City," Sitharaman said.</p>.<p>Sitharaman in her 2021-22 Budget speech had said that the government is committed to make the International Financial Services Centre (IFSC) in GIFT City a global financial hub.</p>.<p>"In addition to the tax incentives already provided, I propose to include, among others, tax holiday for capital gains for aircraft leasing companies, tax exemption for aircraft lease rentals paid to foreign lessors; tax incentive for relocating foreign funds in the IFSC; and to allow tax exemption to the investment division of foreign banks located in IFSC," she had said.</p>.<p>Gujarat International Finance Tec-City (GIFT City) is the country's only international financial services centre.</p>