No relief for travel & hospitality sector, MOT’s budget down by 18%

Union Finance Minister Nirmala Sitharaman while presenting the first paperless Budget of the country focused on building infrastructure but unfortunately had no mention on tourism and hospitality industry apart from introducing Vista Dome coaches on tourist routes. The tourism budget too has been reduced by almost 18 per cent, from Rs 2,499.33 crore in 2020 to Rs 2,032.04 crore in 2021. Apart from proposing tax exemption for aircraft leasing companies and plans to monetise AAI airports in tier-II and tier-III cities, the aviation industry too didn’t receive any relief. The FM announced Rs 1.10 lakh crore for outlay of Railways and capital expenditure along with a National Railway Plan for 2030. Additionally, more economic corridors are being planned to boost road infrastructure and tax holiday for startups has been extended by one year. The FM also announced tax exemption for LTC