Hospitality sector expresses dissatisfaction on the budget

India’s hospitality sector has, by and large, expressed dissatisfaction with the Union Budget for the 2024-25 fiscal, citing a lack of policy announcements crucial for the sector's development. Key demands, such as easing of business operations and implementing necessary policy reforms were not addressed, leaving industry leaders concerned about the future growth of the sector.

Hotel Association of India (HAI)’s President KB Kachru highlighted the significant role that the tourism and hospitality sector plays in the Indian economy. "Regrettably, however, there has been no policy announcement to facilitate the development of hotels and promotion of inbound tourism," he added.

Pradeep Shetty from the Federation of Hotel and Restaurant Associations of India (FHRAI), voiced similar concerns. He said that the hospitality sector had been pinning high hopes on the Union Budget for 2024-25 on the backdrop of the government of India's stated vision of Viksit Bharat by 2047 and the critical role the tourism industry holds in achieving it.

However, Nikhil Sharma, Managing Director and Area Senior Vice President - South Asia for Radisson Hotel Group, acknowledged the budget’s focus on positioning India as a global tourism hub through progressive initiatives.