FAITH had a pre-budget meeting with the FM

FAITH had a pre-budget meeting with the FM

FAITH (Federation of Associations in Indian Tourism & Hospitality) was invited to attend the pre- budget meeting on 6th December, with the Finance Minister, where the whole of the finance ministry, DGFT, commerce & industry were present.

FAITH raised the points of export status for tourism, IGST unlocking for hotels, b2b credit for tour operators, transaction based GST for hotels, GST reduction from 28%, rate of 1.8% as against 5%, no GST on outbound from India, special status for adventure & heritage, special Tourism fund for product development & monetise old heritage buildings, highway facilities creating marine drives along all our seas & river coastlines for encouraging domestic & road tourism.

FAITH was invited to represented Tourism, travel & hospitality & there were other industry focused federations.  All the participants were very appreciative of tourism inputs. FAITH also thanked the Finance Minister for Evisa which has crossed 1 m arrivals & for Mega tourism zones policy announcement last year. He was also very appreciative of the ppp scheme – Adopt a Heritage by MOT

For IGST & export status, they have recommended approaching law team of GST. FAITH is going to follow up this meeting with the FM with meetings with officers in MOF & MOT. The whole industry is hoping for a positive outcome as tourism is the only sector which can promote in a sustainable manner, pan Indian job creation across both mainland & hinterland, creation of a current account surplus, contribution of consumption & investment based GDP & global goodwill.

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