India, Feb. 1 -- Gandhinagar (Gujarat) [India], February 1 (ANI) The Union Budget's proposals to extend tax exemptions send a strong signal to global investors and significantly strengthen GIFT City's position as an international financial services hub, said Sanjay Kaul, Managing Director and Group CEO of GIFT City, following the Budget announcement by the central government on Sunday.

Presenting the Budget for 2026-27, Finance Minister Nirmala Sitharaman today proposed to increase the period of deduction under section 147 to 20 consecutive years out of 25 years for units in IFSC and 20 consecutive years for OBUs. It was also proposed that the business income of these units from IFSC after the expiry of the period of deduction will be ta...