India Budget 2018
I think, one major (recent) impact affecting the industry is the GST rate. We hope that the upcoming budget considers a single slab below 12%. Countries like Singapore, Thailand, and Japan have encouraging tax brackets between 5 and 10%. Also, on the administration and a strategic part, we could be more flexible with VISA-ON-ARRIVAL extensions and also should bring in more countries under this bracket.
We should also expect start-up funds and R&D grants which are usually dedicated towards the IT industry can be set up for the tourism industry to boost indigenous product and service innovation.
Mr. Anil Kumar Prasanna is the CEO of AxisRooms