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The government on Thursday has decided to waive rentals to small IT units operating out of the Software Technology Parks of India (STPI) for a period of four months.
Most of these units are either Tech MSMEs or start-ups. The total cost of the rent waiver to these units for the four months from March 1 to June 30 is estimated to be around ₹5 crore.
“This effort is also in the larger interest of around 3,000 IT/ITeS employees who are directly supported by these units,” Ministry of Electronics and Information Technology (MeitY), said in a statement.
STPI is an autonomous society under MeitY, and it has 60 centres across the country. The initiative to provide rental waiver to the units located in these centres will provide relief to the industry in this crisis situation emerged due to Covid-19 pandemic, it added.
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