2020 Budget for Higher Plant!

Hospitality Sector hopes for Tax relief, Single Window Clearance & Infrastructure 

The fiscal budget 2020 under the returned Government and especially under the leadership of the new Finance Minister, Nirmala Sitharaman. needs to focus on strengthening the Indian Hospitality and Tourism Sector, which is backing the country’s economic growth. With India being an elusive tourist country, the Finance Minister needs to consider relaxing the policies for the Hospitality Industry and also have a friendly running system,  a single-window clearance and lowering the GST rates. 

We can’t neglect the fact that Tourism is the 3rd largest contributors of the nations economy and is one the crucial sources of foreign exchange earnings.

Here’s a look at what the hospitality industry expects from Budget 2020.

“We appreciate that with a long list of other priorities at hand, Tourism does not necessarily list among the top three. But we still hope that a dedicated thrust is given to further promoting Tourism in India. It is one of the largest employment generators and has the potential to place India among the top 5 tourist destinations in the world. The spirit of ‘Atithi Devo Bhava’ should be extended to cover the allocation of resources to impart soft skills training at all Tourism touch-points. We welcome the move to identify and develop new destinations but it is critical that we also focus on improving connectivity & infrastructure at our existing locations.” says  Mr Vineet Verma, CEO and Executive Director, Brigade Hospitality Services Limited

The Sector have been demanding on a single-window clearance and land for infrastructure. Mr Pushpendra Bansal – Chief Operating Officer, Lords Hotels and Resorts express his thought on it Government should strengthen its initiatives to create sustainable hospitality. They should also waive off tourist visa fees for a shorter period to increase outbound tourism. Another important aspect is the lack of adequate infrastructure. The focus should be on developing amenities like building good quality roads, constructing public restrooms on highways and petrol stations that makes road trip safe and women-friendly.

The tax policy in the hospitality industry has been a problematic situation for the hotelier and restauranteur but after the reduction of GST from 28% to 18 to 12%, the sector foresees more growth and development.

“The government’s decision to reduce GST from 28 to 18% and 18 to 12% a couple of months back was a great step forward for the Hotel Industry. We hope further steps are taken to promote local tourism within India. This requires a national campaign on the lines of Incredible India with a focus on domestic traveller’s.”

Amit Damani – Co-Founder of Vista Rooms – A luxury holiday home provider

   Looking forward to the updates of Budget 2020   

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