Tourism Breaking News
Commenting on the Union Budget, KB Kachru, President, HAI, stated, “There is a continued focus on infrastructural development, fiscal prudence and consolidation whereas tourism continues to be accepted as an engine of growth for the economy. The emphasis has been given to spiritual tourism, however, there is no mention of any policy changes to expedite the growth.”
He further said, “Tourism and hospitality play a crucial role in the growth of the Indian economy. The continued focus on government spending on infrastructure development augurs well for the sector. Improved infrastructure would translate into better connectivity which will be beneficial to the promotion of tourism. The development of the eastern region especially Odisha, temple corridors in Gaya and Bodhgaya, Rajgir and the identification of Nalanda as a key tourism site continue to demonstrate the government’s intent to utilize the potential of tourism. Regrettably, however, there has been no policy announcement to facilitate the development of hotels and promotion of inbound tourism. The announcement of GST simplification, comprehensive review of the income tax Act provides some hope for the sector that has been seeking rationalisation of taxes. The benefits to individuals on taxation will augment the spending power. The focus on skilling and incentivising employers for creating jobs are other positives that will benefit all sectors.”
Although not directly linked to this budget, the industry would continue pursuing its ask for grant of infrastructure status for the hospitality sector and industry-related benefits by all state governments, Kachru added.
