Rhetoric And Reality

The ‘no-relief on GST’ stance taken by the government and the failure to recognise hospitality as crucial to India’s growth story continues to be stumbling blocks.

- Nisha Shukla

Union Finance Minister Nirmala Sitharaman presented her first budget on July 5, post the formation of the new government in June this year. While the budget has garnered mixed reactions across all the industries, it has also laid a roadmap for India, which is aspiring to be a $5trillion economy. The budget has focussed attention on the digital economy, start-ups, banking reforms and infrastructure development. For the hospitality and tourism sectors, the government has promised the development of 17 iconic tourist sites as world-class tourist centres, which will offer further growth impetus to the two. However, the failure to bring down GST for the hospitality segment could prove to be a dampener. Market leaders and industry experts share their perspective on the hits and misses.

Aditi Balbir, founder and ceo, V Resorts

Hospitality and tourism industries

The development of 17 iconic tourist sites as world-class centres by the government comes as great news for the hospitality and tourism segments. This policy will not just attract more tourists but also generate better job opportunities. The budget has emphasized the promotion of the rich tribal heritage of India. Policies to promote tribal arts, crafts and fashion on a global platform will help us grow. This move might put us on the world map and generate revenue for the tribal sections of our society.

Women entrepreneurs