Hospitality and travel sector players on Tuesday demanded infrastructure status for the hotel industry besides measures such as tax exemption on LTA annually to boost domestic tourism ahead of the Union Budget. “A full-blown infrastructure status for the hotel sector and further rationalisation of the Goods and Services Tax (GST) and a Central single window clearance for hotel projects are some of the major expectations from the Budget 2024,” an industry expert said in a statement. The industry has been clamouring for infrastructure status for decades. The status will enable hotel projects to have easy access to cheaper debt that is at par with projects in other industries. Another industry expert said in order to give a boost to travel and tourism spends, a reduction in income tax levels is needed to provide increased disposable income in the hands of the people.

Source: Economic Times January 18, 2024 12:54 UTC