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New Delhi, Feb 1 () The Finance Minister's focus to provide impetus to the travel and tourism sector along with development of transportation infrastructure will accelerate the sector's contribution towards country's economy, according to industry players.
 "Increased allocation of funds for the Ministry of Tourism and Ministry of Culture, development of financial roadmaps for tourist destinations and plans to assign specified grants for states will go a long way in accelerating the contribution of the sector towards India's economy," MakeMyTrip Co-founder and CEO-India Rajesh Magow said.
 Presenting the Budget for 2020-21, Finance Minister Nirmala Sitharaman on Saturday said Rs 3,150 crore has been allocated for the Ministry of Culture and Rs 2,500 crore for the Ministry of Tourism.
 "Additionally, development of five iconic archeological sites across Haryana, Uttar Pradesh, Assam, Gujarat and Tamil Nadu comes as a strategic step towards boosting domestic and inbound heritage tourism to these states," Magow said.
 According to Thomas Cook India Chairman and MD Madhavan Menon said, "... an Indian Institute of Heritage and Conservation will be set up with the status of a deemed university, and this is an imperative towards education and skill development of our sector that contributes a significant 10 per cent to India's GDP".
 The Union Budget intended to give impetus to the Travel and Tourism sector with the allocation of Rs 2,500 crore and equally critical allocation of Rs 1.7 lakh crore towards transportation infrastructure in 2020-21, he added.
 In similar vein, ITC Ltd Executive Director and Chairman-FAITH Nakul Anand said "the allocation to develop 100 new airports by 2024 and the soon to be introduced Tejas trains for iconic destinations are advancements in modern infrastructure that augur well for Indian tourism."
 InterGlobe Hotels President and CEO J B Singh said, "we are hoping that this budget will help in creating and developing new and iconic destinations, thereby redefining the tourism industry, for the better and further improve spending, domestic travel and all this will have great long term benefits for the economy".
 Stating that the vision of government to invest in the tourism sector will be a great push for the hospitality sector, Apeejay Surrendra Park Hotels MD Vijay Dewan said: "India's heritage and culture rich experiences have always attracted tourists to the country and government's plan to develop five archaeological sites at iconic sites with on-site museums will attract more tourists from India and globally."
 Sterling Holidays CMD Ramesh Ramanathan said: "We are pleased with the proposed budget, as it will play a pivotal role in the hospitality and domestic tourism sector, and will have a multiplier effect across the board."
 Travel Food Services COO and Business Head Gaurav Dewan said: "The government's focus on development is clear and reinforced with the allocation of additional funds to the Airport, Railway and the Highway sectors."
 This will boost business and leisure travel thereby generating employment, connectivity and overall economic development of catchment areas, he added.
 "The government's push for infrastructure development by building more airports and the announcement of new Tejas trains will boost tourism outside the main centers. This, in turn, will have a positive impact on the hotel sector," Cygnett Hotels and Resorts Founder and MD Sarbendra Sarkar said.
 It is heartening to see a budget that focuses on improving standards of living as well as economic development, OYO, India South Asia CEO Rohit Kapoor said. AKT DRR

Govt's focus on providing impetus to travel, tourism sector positive move: Industry

New Delhi, Dec 19 () NITI Aayog CEO Amitabh Kant on Thursday said the tourism industry in India should target USD 50 billion revenues by 2022, as the sector has immense multiplier impact in the economy and is one of the biggest drivers of growth and employment.
 Speaking at the '15th CII Annual Tourism Summit 2019', Kant said the tourism sector can be one of the biggest drivers of India's economic growth as higher visitor numbers spur employment opportunities.
 "It has immense multiplier impact in the economy. Its impact on the direct and indirect job creation is informidable. It is one sector which can greatly create jobs and that is what India needs, growth with jobs.
 "India's total earning from tourism was about USD 28.6 billion in 2018. We should target that by 2022 we will go to up to USD 50 billion,' Kant said.
 Moreover, in terms of revenue from international tourists, India has only 1.97 per cent share of the total global earnings.
 In terms of tourist arrivals (number of people), it is only 1.2 per cent which is very marginal for a huge country like India.
 "Therefore we need to take it up to 3.5 per cent from 1.2 per cent so that we reach the tourism revenue target of USD 50 billion by 2022," he said.
 On the policy front, Kant said that the government has supported the tourism sector and has reduced GST rates for room tariffs.
 The GST (goods and services tax) rate on hotel rooms with tariffs of up to Rs 7,500 per night has been cut to 12 per cent from the existing 18 per cent.
 Similarly, the tax on rooms with tariff above Rs 7,500 has been slashed to 18 per cent from the existing 28 per cent.
 There will be no GST on rooms with tariffs below Rs 1,000 per night.
 He also said that tourism is essentially a private sector activity and every single segment of the sector from the tourist point of arrival to point of departure, tourist operators, travel agent, tourist guides, cab operators, resorts to hotels, everything is operated by the private sector.
 He said the government can act as a catalyst and urged the industry body CII to work with industry and state governments and work towards a public private partnership for the tourism industry.
 According to CII data, the tourism sector contribution in India has risen to 9.2 per cent at USD 240 billion. It is the third largest foreign exchange earner for the country.
 It has supported more than 4.2 crore jobs, giving 8.1 per cent of the total employment.
 Chief Exective ITC Hotels and Welcom Hotels and chairman of CII National Committee on Tourism and Hospitality Dipak Haksar said the Indian tourism sector has emerged as one of the key drivers of economic growth.
 "Our strategic intent for India is to double its tourist arrivals from 10 to 20 million by 2024," Haksar said.
 Tourism secretary Yogendra Tripathi said that as many as 13 million jobs were created during 2014 to 2018 and the government has also rationalised the visa and e-visa systems to promote foreign arrivals in the country.
 However, he pointed out that there is a huge challenge with regard to tourist guides in India and the government is making attempts for their training and certification. KPM DRR

India's tourism industry should target USD 50 bn revenues by 2022: Kant

New Delhi, Feb 1 () Finance Minister Nirmala Sitharaman on Saturday said a task force will be set up to recommend marriageable age for women.
 Presenting the Budget for 2020-21, Sitharaman said Rs 9,500 crore has been provided for senior citizens and Divyangs, while Rs 35,600 crore has been allocated for nutrition related programme in FY21.
 The finance minister further said that Rs 85,000 crore has been allocated for Scheduled Castes (SCs) and Other Backward Classes (OBCs) in the Budget.
 She also said the government proposes to set up a tribal museum in Ranchi, Jharkhand, while five archaeological sites in Haryana, UP, Assam, Gujarat and Tamil Nadu will be developed with on-site museums.
 The government has allocated Rs 3,150 crore for Ministry of Culture, and Rs 2,500 crore for Ministry of Tourism. TEAM MBI RKL ANZ RVK

Task force to be set up for recommending marriageable age for women: FM

The budget of 2016, presented by <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> was much of euphoria for tourism industry. The tourism ministry got 70 % hike in the budget with an allocation of Rs 1,590 crore, to focus on infrastructure development and promotion and publicity initiatives. Under <keyword id="2964753" type="UNKNOWN" weightage="20" keywordseo="Swadesh-Darshan">Swadesh Darshan</keyword> scheme, theme-based tourism circuits have been identified for infrastructure development across the country, while PRASAD's (national mission on pilgrimage rejuvenation and spiritual augmentation drive) objective is to augment religious and spiritual tourism in the country. 
 The spread looked delicious and the major players were too happy to believe. But on the fateful night of 8th November last year, the debacle happened. PM Modi demonetized Rs 500 and Rs 1000 notes and tourism industry among many others was badly hit. While the government had the logic of digital transaction, foreign tourists coming to India inspired by ‘Atithi devo bhava’ were taken aback. November being Thanks Giving month for most people in the West became quite thankless to the foreign tourists. With too much limitations on withdrawal and exchange, an online travel portal on condition of anonymity told <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword>, they experienced 15% cancelation of pre-booked trips. 
 
So does the upcoming budget look like a silver lining? 
 
Let’s hear it from the experts: 
 Chander K. Baljee, Royal Orchid <keyword id="6368036" type="PERSON" weightage="20" keywordseo="Hotels">Hotels</keyword> told Business Insider, “I believe the tourism and hotel industry could gain tremendous support if the budget supports a lot of things. The list would include extension of e-tourist visa from 30 days to 180 days, need for multiple entry e-toursit visa instead of the existing single entry, promotion on Medical Toursim. 
 
The industry is still saddled with multiple layers of tax include VAT, service tax, luxury tax etc. and ranges from 20% - 30%. Lowering the threshold of infrastructure status for hotel projects to Rs. 25 Cr. would also do well. Some of the aspects which can be considered are: special incentives like tax-free bonds and income tax exceptions on profits used in re-investment in the tourism sector, development of tourism infrastructure at heritage site, setting up centres for adventure activities and experiential zones. More support to drive job creation in this industry will help improve the poverty alleviation in the country.” 
 
Talking about building of infrastructure, Ritesh Agarwal, Founder &amp; CEO, OYO said, “Infrastructure development is a pre-requisite to provide the much-needed impetus for the industry’s growth. Additional incentives should be provided for infrastructure investments in the travel and tourism sector to accelerate growth. A lower tax rate for hospitality business and the lower rate of interest for real-estate development will ensure opening up of more supply for the nascent branded budget hospitality sector. This will be in line with supporting small owner-friendly policies, such as the exemption of service tax in the sub-Rs. 1000 hotel room category.” 
 
Not just Indian entrepreneurs, even tourism boards of various countries are equally excited about the budget on Februray 1. Hanneli Slabber, Country Manager, South African Tourism India said, “Positive taxation of course will help propel domestic tourism forward. We look forward to positive taxation on airline tickets and airport services to make the proposition of flying domestically and internationally more accessible to all Indians.”

Here’s how Budget 2017 will be a game changer in
tourism industry

New Delhi, Apr 20 () Stating that the outbreak of coronavirus has further worsened the economic situation in Goa with state debt reaching over Rs 20,000 crore, a body representing mine owners on Monday appealed to the Centre to resume mining in the coastal state. According to Goa Mineral Ore Exporters Association (GMOEA), an industry body dedicated to promoting, supporting, protecting and increasing Goa's mineral export trade, the Covid-19 pandemic has further worsened the economic and employment situation of Goa because of sudden drop in tourists arrivals. The contraction in tourism will lead to additional losses for the state and will increase unemployment to the tune of almost 75,000 jobs. Moreover, the state is also witnessing closures of several industries due to the extent of the pandemic. "The state debt of Goa has reached dangerous levels of over Rs 20,000 crore as per recent state budget figures. This sharp increase in debt levels can be attributed to shutdown of mining activities which has led to revenue loss of Rs 7,000 crore in the last 2 years," the statement said. Mining in Goa came to a halt in March 2018, after the Supreme Court quashed the renewal of 88 mining leases. At present it is not possible to restart the tourism industry unless the contagion is overcome globally. However, mining can be undertaken even during the present period of lockdown with certain safety procedures and practices, the statement said. It further noted that the suspension of mining has resulted in no provisions/contributions to the District Mineral Funds (DMF) nor the Goa Iron Ore Permanent Fund (GIOPF) and as a result of which the financial capabilities of these funds to undertake any public interest projects. "Despite not being permitted to work for 70 of the last 96 months, the industry still has paid stamp duties, land revenue conversion payments in excess of Rs 1,500 crore, provisions to the government funds such as DMF and GIOPF in excess of Rs 700 crore and foreign exchange of over USD 1 billion," GMOEA President Ambar Timblo said. Timblo further said that "all of this when being denied to work 80 pe cent of the period in the last 7 years". SID DRR

Covid-19 worsened Goa's economic situation, state debt zooms to over Rs 20,000 cr: GMOEA

The <keyword id="6354977" type="ORGANIZATION" weightage="100" keywordseo="Supreme-Court">Supreme Court</keyword> might modify its order on <a href="http://www.businessinsider.in/Good-karma-or-bad-Man-behind-liquor-ban-cant-find-liquor-nearby/articleshow/57985331.cms">ban on sale of liquor</a> within 500 meters of national and state highways in the second week of July. Hotels and clubs, which were forced to stop serving alcohol following the order, had sought changes in the order. Also read: <a href="http://www.businessinsider.in/FHRAI-To-Seek-Legal-Redressal-regarding-Liquor-Ban-on-Highways/articleshow/58179341.cms">FHRAI To Seek Legal Redressal regarding Liquor Ban on Highways</a> In its order, SC had already exempted Sikkim and Meghalaya states from the ban, keeping in mind their topography and terrain. "Our request is not to dilute the judgment of the SC <a href="http://www.businessinsider.in/Liquor-ban-would-dent-state-governments-estimated-revenue-by-Rs-50000-crore/articleshow/57985674.cms">banning liquor</a> sale on the highways at all. This application is to draw attention to the plight of 93 hotels in Tamil Nadu which have invested Rs 6,133 crore and employ about 9,450 people directly and 94,500 indirectly to promote tourism," said the statement from South India Hotels and Restaurants Association. Also read: <a href="http://www.businessinsider.in/Good-karma-or-bad-Man-behind-liquor-ban-cant-find-liquor-nearby/articleshow/57985331.cms">Good karma or bad? Man behind liquor ban can’t find liquor nearby</a>"Due to flaws in the system followed by state governments in notifying highways, the SC's judgement to ban liqour has brought down with it certain <a href="http://www1.m.businessinsider.in/still-sad-about-liquor-ban-at-cyber-hub-indigo-delis-bbqpork-ribs-and-lemon-butter-calamari-will-make-you-forget-that/articleshow/57311109.cms">unintended victims</a>," it added.(Image source New Indian Express)

Supreme Court’s order on liquor ban near highways could be modified

New Delhi, Mar 12 () Following are the top business stories at 1827 hours: DEL84 BIZ-LD STOCKSSensex crashes 2,919 pts as corona contagion triggers global rout; investors lose Rs 11 lakh cr Mumbai: Indian equity benchmarks suffered their biggest ever one-day plunge to crash into bear territory on Thursday as the coronavirus pandemic left a trail of red across global financial markets. DEL97 BIZ-RUPEE-CLOSERupee sinks to fresh 17-month low amid market meltdown, continued forex outflowsMumbai: The rupee slid by 56 paise to a fresh 17-month low of 74.24 (provisional) against the US currency on Thursday due to strong dollar demand as investors pruned riskier bets amid coronavirus pandemic fanning recession fears.BOM27 BIZ-DEFICITIndia's current account deficit narrows to $1.4 bln in December quarterMumbai: India's current account deficit narrowed sharply to USD 1.4 billion or 0.2 per cent of GDP in the December quarter, the Reserve Bank said on Thursday. DEL95 BIZ-IIPIndustrial production grows 2 pc in JanuaryNew Delhi: India's industrial output grew by 2 per cent in January amid subdued performance of manufacturing sector, government data showed on Thursday. DEL94 BIZ-INFLATIONRetail inflation eases to 6.58 pc in FebNew Delhi: Retail inflation slowed to 6.58 per cent in February over the previous month mainly due to easing food prices, government data showed on Thursday. DEL68 BIZ-SBI-YESBANK-STAKE-APPROVALSBI gets approval to invest Rs 7,250 cr in Yes BankMumbai: The country's largest lender State Bank of India on Thursday said it has received approval to buy Rs 7,250 crore worth of shares in crisis-hit Yes Bank.DEL101 BIZ-RBI-LD FOREX-DOLLARRBI to sell dollars worth USD 2 bn on Monday to sooth forex marketMumbai: The Reserve Bank will sell USD 2 billion worth of American currency to banks in a bid to infuse liquidity in the domestic forex market roiled by mounting concerns over coronavirus pandemic and crash in global oil prices. DEL63 BIZ-RBI-STATE-DEPOSITSRBI asks state govts not to move deposits out of pvt banks; says money is safeNew Delhi: The Reserve Bank of India (RBI) has asked state governments not to transfer their deposits out of private sector banks saying apprehensions about the safety of deposits in private lenders are highly misplaced. DCM10 BIZ-NCLAT-CAIT-LD WALMARTNCLAT sets aside CAIT plea against CCI nod to Flipkart's acquisition by WalmartNew Delhi: The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed a petition filed by traders' body CAIT against CCI nod to Walmart's USD 16-billion acquisition of Flipkart. DEL73 CORONAVIRUS-LD BIZ-TOURISMCoronavirus: Visa suspension may cost Rs 8,500 cr for travel, tourism, aviation sectorsNew Delhi: The coronavirus pandemic could bring Indian travel, tourism and aviation industries to a halt within next ten days, especially with the government suspending visas for a month, a move that could cause an immediate economic impact of at least Rs 8,500 crore, according to industry players. DEL20 CORONAVIRUS-BIZ-DUTYFREE SHOPSCoronavirus: Passengers from 15 nations not allowed to enter Delhi airport duty-free shopping areaNew Delhi: Indian Customs has barred passengers arriving from 15 nations, including China, the US, Italy and South Korea, from entering duty-free shopping area at the Delhi airport in wake of the coronavirus pandemic. DCM34 BIZ-GST-RATE HIKEGST on cellphones, fertiliser, man-made fabric, garments may be hiked to 18 pcNew Delhi: GST rates on mobile phones, fertilisers, man-made fabrics and garments are likely to be hiked to 18 per cent in the next GST Council meeting on March 14.DCM28 BIZ-AUTO-RETAIL SALES FADAPassenger vehicle retail sales down 1.17 pc in February: FADANew Delhi: Automobile dealers' body FADA on Thursday said retail sales of passenger vehicles, measured by registration, declined 1.17 per cent to 2,26,271 units in February.DCM21 CORONAVIRUS-BIZ-GOLDETFCoronavirus effect: Inflows into gold ETF hit all-time high of Rs 1,483 cr in FebNew Delhi: Gold exchange-traded funds witnessed an all-time high net inflow of Rs 1,483 crore in February, as slowdown in global economy amid the coronavirus outbreak led investors to opt for the instrument as a safe haven.DCM20 BIZ-LD INVESTOR WEALTHMarket mayhem wipes off over Rs 11 lakh crore investor wealthNew Delhi: Investor wealth worth over Rs 11 lakh crore was wiped off on Thursday as stocks crashed amid a global equity selloff after the World Health Organization declared the coronavirus outbreak a pandemic. RUJRUJ

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Ranchi, Mar 3 () The Jharkhand government on Tuesday proposed to set up a state farmers relief fund this kharif season, state finance minister Rameshwar Oraon said while presenting budget for 2020-21 in the assembly.He said a sum of Rs 100 crore has been earmarked for the proposed relief fund.Oraon presented an estimated Rs 86,370 crore budget for the financial year 2020-21 in the house, the first one of the new JMM-Congress-RJD ministry headed by Hemant Soren."There is a proposal to set up Jharkhand Rajya Kisan Rahat Kosh (farmers relief fund) from this Kharif season, changing the form of Pradhan Mantri Fasal Bima Yojana (PMFBY)," Oraon said.The minister, however, did not elaborate about the proposal.The Soren-led government came to power in Jharkhand after elections in November-December last year.PMFBY was introduced on January 14, 2016 with an aim to reduce agricultural distress and farmers welfare without having to affect hefty hikes in the minimum support price (MSP) for agricultural products due to monsoonfluctuation induced risks.Oraon said in his budget speech that out of the total budget, Rs 73,315.94 crore is under the head of revenue expenditure, while Rs 13,054.06 crore on the capital expenditure.He also said that the state government has decided to introduce "Short Term Agriculture Loan Relief Yojana", underlining Rs 2,000 crore for 2020-21 fiscal for the scheme.Another Rs 200 crore has been allocated under the "Paddy Production &amp; Market Accessibility," the finance minister said.Announcing a new scheme Modern Diagnostic &amp; Other Testing Lab along with ambulance facilities for animals, Oraon said women from the above poverty line would be connected with the ongoing scheme of distribution of cows along with the BPL families.There is also a proposal to give an additional Rs 50,000 to the beneficiaries under "Pradhan Mantri Awas Yojana" and allowing them to construct houses as per their choice.The minister also said that Rs 4,199 crore has been earmarked for constructing five thousand housing units under "Baba Saheb Ambedkar Yojana" in the new financial year.The government has set a target to connect one lakh families under "Livelihood Promotion" scheme in paddy cultivation, poultry, vegetables and medicinal herbs, he said.Under the "Mukhya Mantri Visesh Chhatra Vriti Yojana" (Chief Ministers Special Students Scholarship), he said that the government has earmarked Rs 30 crore with a proposal to give scholarship to all the students, from Class I to Class XII of the government schools.The minister said that there is also a proposal of Rs 1,660.77 crore to ensure regular honorarium to para teachers.The honorarium of Cook-cum-Sahaika engaged in preparations of midday meals will be increased by Rs 500, taking their monthly payment to Rs 2,000.The government has also taken several measures in the sectors of health, industry, tourism, skill development and among others. PVR SNS BALBAL

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Govt's focus on providing impetus to travel, tourism sector positive move: Industry

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India's tourism industry should target USD 50 bn revenues by 2022: Kant

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Task force to be set up for recommending marriageable age for women: FM

PTI

Here’s how Budget 2017 will be a game changer in tourism industry

Suchayan Mandal

Covid-19 worsened Goa's economic situation, state debt zooms to over Rs 20,000 cr: GMOEA

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Supreme Court’s order on liquor ban near highways could be modified

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Soren govt proposes to set up farmers relief fund in budget

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