Union Budget 2024 | 'Nothing spectacular to bring structural changes', says Pradeep Shetty, President of FHRAI

Shetty said, 'The hospitality sector is disappointed but not dejected as the overall focus on infra structure development, employment generation and skill development and development of religious tourism centres are the silver linings which will help the sector to tide over some of the critical challenges that it faces today.'

Shetty said, "Some key demands of tourism & hospitality to revitalize the sector such as GST rationalization, granting of infrastructure status and bringing ease of doing business and policy reforms have not been considered in the budget once again, given the well accepted multiplier effect of tourism on employment and economy."

"The hospitality sector is disappointed but not dejected as the overall focus on infra structure development, employment generation and skill development and development of religious tourism centres are the silver linings which will help the sector to tide over some of the critical challenges that it faces today."

"The government's proactive perspective on enhancing tourism, particularly through the development of spiritual and cultural landmarks like the Vishnupath temple in Gaya and Mahabodhi temple in Bodhgaya is a commendable move that promises substantial economic and social benefits. Furthermore, the development plans for Rajgir and Nalanda represent a significant investment in promoting India's ancient historical and educational legacy. The government's commitment to supporting tourism in Odisha will not only highlight Odisha's unique attractions but also encourages sustainable practices that preserve the state's ecological balance and cultural heritage," Shetty said.

"The focus of Budget 2024 on youth employment, skill development and job creation are welcome initiatives. The industry has been facing a shortage of skilled workforce, especially in the hospitality sector."

Shetty added, "It is also laudable that the Honourable Finance Minister's Budget speech highlights the Governments’ commitment to make India a premier global travel destination through targeted investment and strategic initiatives. Development of iconic spiritual sites along with promotion of cruise and beach tourism can be helpful in attracting both domestic and international tourists."

Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman presented her 7th consecutive Union Budget on July 23, 2024 under the Modi 3.0 government. This Budget brought tax relief for the middle class, while focusing on jobs through skilling, incentivising employers. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.