Industry seeks tax holiday for adopting ITIs
Dissatisfied with the government's financial package for running state-owned Industrial Training Institutes (ITIs), industry body FICCI has sought tax holiday and freedom to regulate admission and fee structure as incentives.
By PTI |
NEW DELHI: Dissatisfied with the government's financial package for running state-owned Industrial Training Institutes (ITIs), industry body FICCI has sought tax holiday and freedom to regulate admission and fee structure as incentives.
In his Budget for 2007-08, Finance Minister P Chidambaram had announced a Rs 750-crore package for the industry to run 300 ITIs under public-private partnership model.
Under the package, an industrial house which agrees to run an ITI would get Rs 2.5 crore interest free loan, but states would fix fee and admission policy.
Chidambaram had said the government was ready to support the industry to run over 1,300 state-owned ITIs.
Speaking at the national conference on 'Skill Building through Public-Private Partnership', FICCI past President Onkar S Kanwar, said, "The government should grant industry status to skill development and formulate a business model on adoption of ITIs to allow industry to participate effectively."
This, he said, may include freedom to regulate admission and fee structure, incentivising setting up of vocational training centres in rural India and tax holidays.
Speaking at the meet, Planning Commission Member Dr Bhalchandra Mungekar suggested setting up of a specialised dedicated academy funded by the government initially and later taken over by the private sector to create high-class faculty for skill development centers.
In his Budget for 2007-08, Finance Minister P Chidambaram had announced a Rs 750-crore package for the industry to run 300 ITIs under public-private partnership model.
Under the package, an industrial house which agrees to run an ITI would get Rs 2.5 crore interest free loan, but states would fix fee and admission policy.
Chidambaram had said the government was ready to support the industry to run over 1,300 state-owned ITIs.
Speaking at the national conference on 'Skill Building through Public-Private Partnership', FICCI past President Onkar S Kanwar, said, "The government should grant industry status to skill development and formulate a business model on adoption of ITIs to allow industry to participate effectively."
This, he said, may include freedom to regulate admission and fee structure, incentivising setting up of vocational training centres in rural India and tax holidays.
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Speaking at the meet, Planning Commission Member Dr Bhalchandra Mungekar suggested setting up of a specialised dedicated academy funded by the government initially and later taken over by the private sector to create high-class faculty for skill development centers.
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