Budget 2019: Travel startups welcome Nirmala Sitharaman’s maiden budget; expects ‘exponential growth’ for sector

By: |
Updated: July 10, 2019 4:46:03 PM

Budget 2019-20: Finance minister Nirmala Sitharaman had announced on Friday about developing 17 “iconic tourism Sites into world-class tourist destinations and to serve as a model for other tourism sites."

Budget 2019, Union Budget 2019 India, Budget 2019 India, Budget 2019-20Union Budget 2019 India: Nirmala Sitharaman had said stressed on the need to develop India’s inland waterways.

Budget 2019 India: The finance minister Nirmala Sitharaman’s mention of making India a world-class tourist destination has earned praises from startups and other enterprises in the travel and tourism space. The minister had announced on Friday about developing 17 “iconic tourism Sites into world-class tourist destinations and to serve as a model for other tourism sites,” that is expected to boost the flow of tourists and the industry overall.

“With government developing 17 iconic tourism sites to improve the flow of domestic and foreign tourists and allocating Rs 1.05 lakh crore budget for the same, the Indian tourism Industry is bound to grow exponentially,” said Mohit Poddar, CEO & Co-founder, Shoes on Loose.

This is expected to be a “game-changer for the Indian economy and society in the coming years,” said Aditi Balbir, Founder and CEO, V Resorts adding that “the budget also paid emphasis on the promotion of the rich tribal heritage of India and its culture. This might put us on the world map and generate revenue for the tribal sections of our society.

Also read: Budget 2019: Nirmala Sitharaman sees entrepreneurship as way for every ‘Nari’ to truly become ‘Narayani’

Nirmala Sitharam had said that “a digital repository is developed where documents, folk songs, photos & videos regarding their evolution, place of origin, lifestyle, architecture, education level, traditional art, folk dances and other anthropological details of the tribes in India are stored.”

The minister also highlighted about the National Common Mobility Card standards launched by PM Modi in March this year for commuters to pay for different kinds of transport charges such metro, toll tax, parking charges across India. This is also expected to boost domestic tourism.

“On the domestic tourism front, the National Common Mobility Card will add to the convenience of travellers significantly for making cross-segment payments, said Varun Chadha, CEO, Tirun — a travel marketing company.

With respect to cargo movement, Nirmala Sitharaman had said stressed on the need to develop India’s inland waterways to shift from the road and rail-based cargo to rivers for cargo transportation. However, this can also help boost tourism. “The proposed Inland waterways development by the government is a positive step towards boosting coastal tourism in India.  The Varanasi – Haldia route will be an opportunity for river cruises to provide inland waterways tourism to domestic and foreign tourists,” said Nalini Gupta, Head of Costa Cruise India.

Do you know What is Receipt Budget, Securities Transaction Tax, Revenue Deficit, Centrally Sponsored Scheme, Non Tax Revenue? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Next Stories
1Budget 2019: FPI surcharge may stay, ‘trust route opaque’, feels government
2Budget 2019: States’ gain circumscribed despite 14th Finance commission hiking shares in divisible tax pool
3Budget 2019: Disappointing to see continued incrementalism on disinvestments of PSUs