GS PrelimsEconomyBudget2001

The Union Budget, 2000 awarded a Tax Holiday for the North-eastern Region to promote industrialisation for

5 years

7 years

9 years

10 years

Correct Answer: Option D

Explanation

1. The Union Budget, 2000-2001, presented by Finance Minister Yashwant Sinha, included provisions to incentivize industrialisation in the North-eastern Region of India. 2. As part of a package of fiscal incentives, a Tax Holiday (exemption from income tax) was provided for new industrial undertakings set up in the North-East. 3. This Tax Holiday was typically granted for a period of 10 years from the date of commencement of commercial production. 4. Such incentives aimed to attract investment and promote economic development in the region.

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