Listing out his expectations of the travel industry from Budget 2017, Kapil Goswamy, CEO and Managing Director BigBreaks.com said that the service tax introduced recently on holiday packages should be rolled back.
Listing out his expectations of the travel industry from Budget 2017, Kapil Goswamy, CEO and Managing Director BigBreaks.com on Monday told FE Online that the service tax introduced recently on holiday packages should be rolled back. He also asked for investment in improving road infrastrucure to make road travelling more attractive. “Tax rates should be reduced so that there is more income in the hands of people,” he added.
“Travel and tourism is a major sector that doesn’t just support a leisure activity, but also brings multiplier benefits for the economy. It doesn’t make business sense to impose hefty taxes on this sector which in a way tend to discourage travellers from abroad from coming to India,” he quipped.
Narendra Modi government will be presenting Budget 2017 on February 1. The Budget is special not only for the fact that it has been preponed but more importantly because it comes within months after Modi government’s massive demonestisation drive. Most analysts and economists expect Budget 2017 to be tax-payer friendly, especially given the pain that common man has faced after old Rs 500 and Rs 1000 notes ceased to be legal tender money.
Meanwhile, the Cabinet Committee on Parliamentary Affairs (CCPA) recommended holding of the Budget Session from January 31. The first part of the Budget Session will run till February 9. The 92-year-old practice of presenting a separate Rail Budget is going to end from this fiscal, with the Finance Ministry accepting Railway Minister Suresh Prabhu’s proposal to merge it with the General Budget.
Finance Minister Arun Jaitley has indicated that railway travel may become pricier for passengers come the next financial year.