MeitY to provide a rental waiver to small IT units on STPI premises

MeitY to provide a rental waiver to small IT units on STPI premises

Given the challenges posed by the COVID19 outbreak and the ensuing shutdown, the Narendra Modi government today made an important decision to make rent payments to the small IT units operating from the Software Technology Parks of India (STPI) , to relieve. Most of these units are either technical MSMEs or startups.

The Ministry of Electronics and Information Technology (MeitY) has decided to grant a rental exemption from 01.03.2020 to 30.06.2020, i.e. for a period of 4 months, to these units located on the STPI site in the country.

Software Technology Parks of India (STPI) is an autonomous society under the Ministry of Electronics & Information Technology, Government of India and has 60 centers across the country. The initiative to grant a rental waiver to the units in these centers will provide relief to industry in this crisis situation created by the COVID19 pandemic. This initiative will bring benefits to nearly 200 IT / ITeS MSMEs operating from these 60 STPI centers. The total cost of the rental exemption provided to these units over a 4 month period from 01.03.2020 to 30.06.2020 is estimated at Rs. 5 Crore. This effort is also in the greater interest of approximately 3,000 IT / ITeS employees directly supported by these units.

(With inputs from PIB)

News

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Fightin’ Herds will be available on PlayStation 4, Xbox One, and Nintendo Switch
Fightin’ Herds will be available on PlayStation 4, Xbox One, and Nintendo Switch
The season one pass will be a part of the deluxe edition content wherein its physical version can now be pre-ordered by following this link. The game is ...
The lockdowns in China have put at least one model of the iPhone 14 series late
The lockdowns in China have put at least one model of the iPhone 14 series late
The information comes from Nikkei Asia sources, which indicate that at least one of the models in the iPhone 14 lineup is a bit behind schedule, and more ...
Microsoft trackers are not blocked by the DuckDuckGo Privacy Browser app
Microsoft trackers are not blocked by the DuckDuckGo Privacy Browser app
The app includes, among other things, a tracker blocker and a cookie blocker to protect the privacy of users. The description of DuckDuckGo Privacy Browser ...
The ruble extends its gains, while the lira falls again
The ruble extends its gains, while the lira falls again
The Russian central bank said inflationary expectations among households fell to 11.5% in May from 12.5% in April, giving it more reasons to cut the key rate ...
Google is canceling Pixel Fold for the second time because it's not good enough
Google is canceling Pixel Fold for the second time because it’s not good enough
In January, it was reported that it was back on the table and rumors implied that Google made some changes along the way. For instance, the phone was earlier ...
Horizon Forbidden West and Gran Turismo 7 are both available for less than £50 in the UK
Horizon Forbidden West and Gran Turismo 7 are both available for less than £50 in the UK
Meanwhile, Gran Turismo 7 is £49.99 for the PS5 version and £49.95 for the PS4 edition. You do have to pay to upgrade the PS4 version of GT7 to the PS5 ...
Goyal will visit the UK on a two-day visit to discuss the Free Trade Agreement
Goyal will visit the UK on a two-day visit to discuss the Free Trade Agreement
It also said that Goyal, who led the team India at World Economic Forum (WEF) in Davos from May 23-25, finished his trip with several high-level engagements ...
PhonePe, owned by Walmart, introduces UPI SIP to invest in 24K gold
PhonePe, owned by Walmart, introduces UPI SIP to invest in 24K gold
The advantage of starting a gold SIP on PhonePe is the convenience of UPI (unified payments interface). The user has to just select the gold provider, ...
Coal India to scrap large new mine this year to meet growing energy demand
Coal India to scrap large new mine this year to meet growing energy demand
Coal India’s record production has been brightspot in efforts to end India’s worst power crisis in more than six years, as a heatwave has driven up demand ...
Glenmark introduces 'Hello Skin', India's first Whatsapp-based chatbot to help patients with fungal infections
Glenmark introduces ‘Hello Skin’, India’s first Whatsapp-based chatbot to help patients with fungal infections
Glenmark Pharmaceuticals Ltd. (Glenmark), an innovation-led global pharmaceutical company, has developed a digital patient education tool, ‘Hello Skin’ in ...
Show next
We will be happy to hear your thoughts

Leave a reply

Compsmag - Latest News In Tech and Business
Logo