Friday, April 19, 2024

The budget undeniably gives enough allocation for the improvement of the tourism sector. But for the financial year 2020-21, Finance Minister Nirmala Sitharaman has allocated 2,500 crore for India’s tourism industry which is not enough for tourism industry. The anticipations were pretty more as far as extra GST reduction but the union budget has completely disappointed it. The pros of it would be the idea to improve 17 famous tourism spots into world-class tourist destinations which will bring in more foreign tourists. Thus, both the hospitality and other stakeholders of the industry will get benefitted.

Additionally, the planned transport and social infrastructure supported by digital platforms will increase tourism more.

The stages to advance the rich tribal heritage and its culture will promote tribal arts, crafts, fashion and architecture to make better earnings and create its presence on the world map. The tax load on employees because of tax on employee stock options to be delayed by 5 years or until they leave the company or once they sell, is fine but it would be only appropriate for successful start-ups. This is something which start-up community has been requesting for total abolition till the exit.


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