FM announces major push to IT sector, proposes tax reliefs, tax holiday till 2047 for data centres
New Delhi: During the presentation of the Union Budget 026, Union Finance Minister Nirmala Sitharaman has announced several key measures for the IT sector.
Sitharaman announced that all IT services will now be grouped under a single category with a common safe harbour margin of 15.5 per cent. The threshold for availing safe harbour benefits has been increased to ₹2,000 crore from the earlier ₹300 crore.
The Finance Minister also said that safe harbour approvals for IT services will now be granted through an automatic, rule-based system. In a major incentive, foreign companies setting up data centres in India to provide cloud services will get a tax holiday till 2047.
In addition, a safe harbour margin of 15 per cent on cost will be provided when data services are offered from India by a related entity.
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US rules out use of nuclear weapons against Iran
Washington DC: The White House has reportedly ruled out the use of nuclear weapons against Iran, even as uncertainty continues over ongoing peace negotiations and a deadline set by US President Donald Trump approaches.
Issues bout a possible escalation had increased after US Vice President JD Vance said that the United States has “tools in our toolkit that we so far haven’t decided to use” in dealing with Iran.
His remarks came amid rising tensions and ahead of a deadline linked to peace efforts.
The situation has attracted attention as Trump warned Iran that its “whole civilization will die tonight tonight” if an agreement is not reached by Tuesday at 8 pm.
This statement led to speculation about the possibility of extreme military measures, including a nuclear strike.
Following Vance’s comments, the White House issued a clarification distancing itself from such interpretations. In a post on X, it said, "Literally nothing @VP said here 'implies' this, you absolute buffoons." In a later statement, it added that “only the president knows” what action will be taken regarding Iran.
Literally nothing @VP said here "implies" this, you absolute buffoons https://t.co/7JU3wXMaWX
— Rapid Response 47 (@RapidResponse47) April 7, 2026
