Hospitality Industry Expectations
Mr. Jaideep Anand, GM, Ista Hyderabad says -
The budget 08 had not been very rewarding for the tourism/hospitality sector so expectations from Budget 2009 are indeed very high. Since the sector is anyways going through a bad phase with the ripple effect of global slowdown and 26/11 attacks, we are looking at receiving tax rationalization and recognition as an industry which will make it easier for the sector receive funding and thus grow at a higher rate. Hospitality industry is key growth driver for the economy as it brings highest forex to the country and through its multiplier affect it supports business and infrastructure, generates employment and also boosts tourism. Though there are tax benefits for the star hotels which are provided by various state governments at their level, there is no policy of tax exemption or tax holidays for the hotels from the center.
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