New Delhi, February 02, 2018: The hospitality industry and its role in the upcoming budget : The biggest expectation that the industry has from the government, at this time, is to take on an initiative on the long overdue demand of the giving the hospitality industry the status of the infrastructure sector. Primarily, in the last couple of years, we have seen the kind of development that took place in the aviation, roads, transport and shipping sectors wherein, the connectivity and infrastructure of the country have improved. Also, the relationship with our neighbouring countries and the rest of the world has improved. India has emerged as one of the most preferred destinations for foreign. This is definitely going to boost and increase tourism. Therefore, the infrastructure is crucial when it comes to the hospitality industry and it requires development. It is expected that India will see an almost 100% rise in travellers in the next five to seven years. Another important aspect of the budget would be rationalization of the GST rates. The GST rates vary in different segments. With regard to luxury hotels it has a slab of 28% whereas, the mid-segment hotels are at 18% and the smaller ones at 12%. The government should rationalize the GST for the luxury segments and try to boost the budget hotels for bringing down the GST on room accommodation up to Rs. 7500 by 12%. The step taken by the government to rationalize the GST on F&B is welcomed and we are looking forward to a more innovative adjustment by the government in the coming budget.’
Corporate Comm India(CCI Newswire)
