New Delhi, February 01, 2020: Budget 2020 has given the Indian tourism and hospitality sector the much needed shot in the arm by allocating Rs 2500 crore for developing the sector . The Budget proposal to develop 100 more airports and introduction of more Tejas type trains to boost supplementary infrastructure is also welcome. The decision to develop five more archaeological sites would also surely increase both International and domestic tourist inflow. The number could have been proposed much more than just five considering the wide array of decrepit historical sites in the country crying for development. While we welcome these development-oriented announcements, the hospitality industry was also expecting a full-blown infrastructure status for the hotel sector and further rationalization of Goods and Services tax (GST) on hotel rooms. Infrastructure status for the hotel industry can alleviate the funding woes the sector is currently staring at, as liquidity with the mid-sized hotel players has almost dried up. In absence of seamless debt flow, equity alone will not suffice.
Corporate Comm India (CCI Newswire)
