Boosting India's Economy: Tourism Sector Demands Industry Status Ahead of Union Budget

The travel and tourism sector in India is gearing up its lobby to gain industry status before the much-awaited Union budget. The chiefs, like the CEO of MakeMytrip Rajesh Magow, stress that such a status will be significant to attract investments and increase growth for hospitality. With the sector accounting for more than 9% of employment and projected to support 62 million jobs in the next decade, stakeholders argue that granting GST credits for hotel construction and rationalizing tax rates would significantly boost domestic tourism. This move is considered imperative to sustain the momentum of a rapidly expanding sector that will be crucial to India's future economy. 

Source: UNI India 

Business Standard 

Economic Times