Budget 2021 Expectations: Hit by Covid, tourism can still play key role in achieving $5 trillion economy dream

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New Delhi | Updated: December 18, 2020 4:39 PM

Union Budget 2021 Expectations for Travel: Minister of State, Ministry of Tourism and Culture, Prahlad Singh Patel has said that "PM Modi has been continuously focusing on tourism and as per his vision and guidance we are moving forward with our efforts for the growth of tourism industry".

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Union Budget 2021-22 Expectations for Travel Industry: The Covid pandemic has changed the way we used to live our lives and its severe impact is visible in several industries. The tourism industry has to bear a major brunt due to the highly contagious disease and a robust blueprint is required to revive the sector once again. Even though the tourism sector has been hit by the Covid, it can still play a pivotal role in realising the Narendra Modi government’s vision of making India a USD 5 trillion economy.

Minister of State, Ministry of Tourism and Culture, Prahlad Singh Patel has said that “PM Modi has been continuously focusing on tourism and as per his vision and guidance we are moving forward with our efforts for the growth of tourism industry.” “We understand the impact of Corona on the industry and we have accepted the loan restructuring proposals and forwarded to the Union Ministry of Finance,” the Union Minister said while speaking at an event organised by ASSOCHAM. The central theme of the event was “India’s resilience: Atmanirbhar roadmap towards US$5 trillion economy”.

Also Read: Budget 2021 Expectations: Long-term response to Covid-19 needs significant part of Union Budget allocation

“Domestic tourism is now happening in a more organic fashion as an organised vertical and has a lot of potentials. India’s natural heritage has been rated 6th greatest in the world by the World Economic Forum. In the post Covid recovery, I would like to say that we truly are a blessed land. Having said that, we are not forgetting the global market too,” said Rupinder Brar, Additional Director General, Ministry of Tourism ahead of Budget 2021.

“We strongly believe that technology will drive the next phase of growth for India’s travel and tourism sector. The current situation also gives us an opportunity to collaborate and create a safe and hygienic ecosystem for travellers in the country. OYO has made some good progress in this space through multiple initiatives like Sanitised Stays, Sanitise Before your Eyes and Contactless Check-in. With an increased focus on domestic travel, we have an opportunity to develop smaller cities in India as the next tourism hubs while being Atma Nirbhar to revive the sector and realise the vision of our Honourable Prime Minister of making India a USD5 trillion economy. We appreciate the diligent efforts of the Honourable Minister of Tourism Prahlad Singh Patel towards ensuring that India’s tourism industry moves in the right and positive direction,” Ritesh Agarwal, Founder & Group CEO, OYO Hotels & Homes, said ahead of the Union Budget 2021.

“Tourism is not only a major contributor to our GDP but also helps generate a lot of employment. Coming from J&K, I understand the importance of tourism in the socio-economic development of a region. Tourism sector would play an important role to realise our Hon’ble Prime Minister’s vision of making India a 5 trillion-dollar economy,” Manik Batra, Director, Batra Group, Chairman, ASSOCHAM J&K Council said ahead of Budget 2021.

“As the most severely impacted sector due to Covid, this critical industry with an exponential multiplier effect on economic revival must receive significant national attention, encouragement and stimulus. Thank you to ASSOCHAM Foundation Week 2020 to bring this to Centre Stage and look forward to sharing strategies for tourism revival with the panel of eminent industry and ministry experts,” Mahesh Natarajan, Senior Vice President Marketing, Sales & Business Development, IHHR Hospitality, said ahead of the Union Budget 2021.

“After Covid-19, Tourism was the first to get affected and will be the last to recover. However, if scheduled international flights are started along with e-visas then it can also be the first to bounce back. With a little financial and taxation support, we could save about 50 million jobs and Tourism and Aviation industry could play a major role in achieving the 5 trillion-dollar economy for our country,” Subhash Goyal, Founder and Chairman, STIC Travel Group of Companies, said.

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