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Thomas Cook India records PBT of INR 2,842mn for 9 months of FY24

Thomas Cook India records PBT of INR 2,842mn for 9 months of FY24
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Tourism industry welcomes Interim Budget measures, hopes other industry demands to be met going forward

The interim budget includes measures to boost domestic tourism, such as long-term interest-free loans for developing iconic tourist centres and a reduction in GST for hotels and restaurants. The finance minister also emphasized the importance of enhancing overseas marketing budgets to attract foreign tourists. Additionally, the budget focuses on improving tourism infrastructure on islands, including port connectivity and airport development. The allocation for the tourism ministry has increased, but expenditure on promotion and publicity has been reduced. Industry executives believe that these measures will have a positive impact on the growth of the tourism sector.

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States get long-term interest-free loans in interim budget to develop iconic tourist spots

Finance minister Nirmala Sitharaman in her speech on Thursday said states will be encouraged to take up "comprehensive" development of iconic tourist centres and undertake their branding and marketing at a global scale. Tourism, including spiritual tourism, has tremendous opportunities, she said. The announcements on spiritual tourism will lead to the creation of job opportunities at the local level, and the decision to provide long-term interest-free loans to states for the development of tourism infrastructure will certainly boost both domestic and inbound tourism, industry body CII said in a statement.

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From industry leaders to politicians, interim budget 2024 elicits diverse reactions

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Will Budget 2024 reduce 20% TCS for taxpayers, levy TCS on credit card forex payments?

Budget 2024: The industry wants the Finance Ministry to reconsider the decision of applying TCS at such a higher rate of 20%. The rate is exceptionally high and almost punitive to the citizens who need to make foreign payments, say experts. Earlier, TCS used to be applicable at 5% when you cross the threshold of Rs 7 lakh for certain transactions.

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