Union Budget 2021: Govt should consider light touch regulatory regime to attract global lenders in IFSC On the tax front, it is important to make it easy for both the lessor and lessee to avoid tax leakage. Sunil Badala January 31, 2021 07:13:34 IST Government should look for ways to give tax relief. Reuters The International Financial Services Centre (IFSC)’s Gujarat International Finance Tech-City (GIFT) is the first smart city in India that is fast emerging as an attractive destination for financial services players. After the setting up of the International Financial Services Centre Authority (IFSCA) [being the Unified Regulator for IFSC], it has witnessed some path-breaking regulations and policy announcements in a very short span of time for different aspects of financial services such as banking, stock-broking, investors in IFSC, etc.