Budget reaction: Travel and tourism industry

3 Feb 2022 , 01:18 PM

The travel and tourism industry welcomes the noteworthy initiatives of issuance of e-passports and the expansion of the ECLGS scheme for the hospitality sector announced at the Union Budget FY 2022-23. While we are certain that the modern infra developments of roads, railways, airports, ports, waterways, and the national ropeway project mentioned under the Prime Minister’s PM Gati Shakti plan will be the key drivers of domestic tourism economy, the industry would have benefitted if the government extended more direct and immediate support to the sector. We had requested the government for respite in rationalization of taxes, eliminating the TCS on outbound travel, and elimination of the 5 crore capping for the SEIS benefit which were unfortunately not addressed and would have aided to the revival of the industry.

The author of this article is Daniel D’souza, President & Country Head, SOTC Travel

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