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Press Note- Budget Expectations - Travel and Tourism sector - Travel Unravel Holidays Private Limited
Travel and Tourism sector demands increase in the lowest tax slab to 5 lacs
- Demands investment push for marketing and promotion of heritage destinations in India
- Tax exemption for start-ups and small enterprises to be continued for the next five years
New Delhi, January 21, 2019: Travel Unravel Holidays Private Limited, a travel e-commerce retail player, has put forth the demands of the industry before the ensuing Union Budget 2019-20, on behalf of the travel and tourism industry, today. Saurabh Sharma, co-Founder and Director, Travel Unravel Holidays said, “The travel and tourism sector accounts for 9.4% of GDP of India and contributes to three high-priority goals of developing countries: the generation of income, employment, and foreign-exchange earnings, therefore, the focus on this sector in Union Budget 2019-20, should be made the top priority.”
Flagging the demand on behalf of the travel and tourism industry, Saurabh demanded:
* Travel and Tourism sector demands an increase in the lowest tax slab to 5 lacs. The increased exemption slab will give people a window to use the additional money for travel and tourism sector.
* Demands investment push for marketing and promotion of heritage destinations of India. A special scheme should be started to market India’s rich cultural and geographical heritage
* As more and more people are travelling, the infrastructure needs to be scaled in India, be it the airports, hotels or the logistics facilities. So the travel and tourism sector demands the status of priority lending sector for access to easy loans.
* Also, a special incentive for educating and providing the skill to the youth is a must as the industry needs more and more professionally trained manpower.
* GST refund must not be delayed for more than 30 days. We have a very small room for the working capital and the consequent delay in the refund locks the working capital; further stressing the sector. Moreover, airlines and other allied services need payment to be done within 10 -15 days only.
* In addition to the above, a continuation of tax exemption for start-ups and small enterprises for the next five years should also be taken into consideration.