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FM Nirmala Sitharaman concludes her budget speech, and it is very disappointing to see that there is no positive takeaway for Indian Travel Market and Tourism sector. Despite PM Modi’s mention about how important is tourism for India, the sector has been left high and dry once again. There is no change in GST slab as well, GST on hotel rooms over INR 7500 is still 28%.
Thousands of travel agents, travel companies, hospitality groups, airlines and allied companies of the sector have been completely ignored in the Budget for India.
Lets have a look on key points of Budget 2019 for Travel Industry.
1. Government is mulling organizing an annual global investors’ meet in India: This would certainly benefit the Indian tourism and travel sector as the World Economic Forum has benefited Switzerland. FM
2. We have decided to open Indian embassies and high commissions where India does not have diplomatic missions yet. We have approved 18 new diplomatic missions in Africa: FM
3. A massive program of railway station modernization to be launched this year: FM
4. UDAN Scheme will improve Air Travel; the time is right for India to enter aircraft financing. FM
5. 17 iconic tourism sites being developed as world-class tourist centers to improve tourism.
6. Inter-operable one nation one Card announced, National transport card for universal travel which can be used on various modes of transport (Road, Railway, Metro, etc) The card can also be used as an ATM card for withdrawing money.
What do you think about this budget? let us know in the comment section below.