The assurance was given by finance minister P Chidambaran when the ICC president Ehsan Mani and top Board of Control for Cricket in India (BCCI) officials called on him to discuss the issue.
Mani was accompanied by the former BCCI president, Jagmohan Dalmiya, president Ranbir Singh Mahendra and vice-president Rajeev Shukla.
The meeting lasted for nearly 15 minutes and the finance minister has assured the delegation that he would look into the matter.
The ICC chief, who has been in the capital for the last three days to meet top government officials in this regard, also submitted all the papers to the minister.
The ICC's executive board will meet in New Delhi on March 18 toratify the decision to allot the tournament to India.
"But if the government does not grant the tax exemption for the tournament, it could be given to some other country," the BCCI source said.