The document discusses expectations for the hospitality sector in India from the union budget. It notes that while the sector is a key driver of economic growth and jobs, bringing in significant foreign exchange, it faces challenges like a lack of tax benefits and high service taxes. The 2019 budget did not provide the importance or support needed for the industry to grow and maintain competitiveness as a tourism destination, despite its role in job creation and combating terrorism.
3. Impact on hospitality sector Development tourism 5 year Holiday from income tax Income tax, surcharge and dividend Amortization benefit Measures on infrastructure fronts Short fall of room
4. expectations looking at receiving tax rationalization and recognition as an industry which will make it easier for the sector receive funding and thus grow at a higher rate. . Hospitality industry is key growth driver for the economy as it brings highest forex to the country and through its multiplier affect it supports business and infrastructure, generates employment and also boosts tourism
5. Contd…. there are tax benefits for the star hotels which are provided by various state governments at their level, there is no policy of tax exemption or tax holidays for the hotels from the center“ lack of entrepreneurship Service tax is another issue which the industry would want Finance Minister to address. Repealing of service tax on various services provided by hotels will be a big boost for the sector as a whole.
6. Contdd.. It would only be fair to expect the government to aid sectoral growth and capacity expansion, so that we can maintain the competitive edge as a cost-effective tourist destination.
7. What union budget has given The Union Budget 2009-2010 did not give the hospitality and tourism industry the importance that it deserves, especially when the country expects from our industry to generate more and more jobs and fight terrorism despite being a soft target.
