Nagpur: A Large number of industrialists, traders and professionals of Nagpur expressed satisfaction over the Union Budget presented by Union Finance Minister Nirmala Sitharaman saying that it reflects the Government’s resolve to continue growth measures in coming days. They also welcomed it believing that the economy would grow further because of the steps initiated by the Government in various sectors
Lauding the Budget, Devendra Parekh, President, Vidarbha Economic Development Council (VED) appreciated the inclusive budget, touching all income groups, sections of society, and businesses through this comprehensive budget. He said, this budget installs a pride of being an Indian covering, as it does, all aspects of Indian society within its framework. The country is experiencing growth in the quality of life by the citizens and there is a marked efficiency in the delivery by the Govt. A Rs 7 lakh limit for no taxation is a welcome step, and minimum leakages in GST / IT due to digitalization have also made a big difference to revenues, he said.
“More specifically, with the contribution of Rs 11 lakh crore (3.4% of the GDP) in infrastructure will lead to the creation of employment opportunities and be a big fillip to industrial activity. The emphasis on the creation of Railway Economic Corridors would mean a drastic reduction of logistics costs and greatly enhanced efficiency of logistics, enabling a desired competition with China. In the railways arena itself 40,000 bogies being converted to the Vande Bharat type of bogies would create economic opportunities and offer greater travel comfort for the travellers,” Parekh stated.
He said rating Tourism Centres, that is, tourism destinations, is a very desirable step in the right direction. Infrastructure improvement in such centres will foster a competitive spirit in the people of other similar destinations, leading to improvement of tourism infrastructure of their own cities/centres.
However, according to Parekh, a few points which could have been covered are that an income tax on agriculture should have been introduced. There are a lot of farmers with high incomes from the agriculture sector who should be brought within the tax regime. Also, in the railway sector, new trains should have been introduced on the popular passenger routes on a pan-India basis.
Tejinder Singh Renu, President, Nagpur Residential Hotels Association (NRHA) said that the Union Finance Minister highlighting comprehensive development of tourist centres is extremely encouraging for the hospitality sector as tourism is an important driver of our economy to stimulate employment as well as GDP. The tourism and hospitality sector are also very delighted to hear about the government’s vision to grant long term financing to states for developing iconic tourism centres.
After pandemic, the hotel industry has witnessed considerable increase in the local tourists and with the enhanced focus of the Government for promotion of MICE (meetings, incentives, conferences and exhibition tourism), religious tourism, iconic tourism centres and domestic tourism will lay the much needed foundation of tourism development for ‘Viksit Bharat’, the NRHA President said.
“Promoting and enhancing infrastructure facilities in our islands including Lakshadweep is highly appreciable; hopefully a similar emphasis is given to the jungle tourism which is making our rural economy strong with high potential of employment to the local people,” he said.
Renu further said that practically every portion of our country is blessed with high potential to attract local and foreign tourists; however we fail in promoting our assets. It is good that the Prime Minister Narendra Modi himself has advised Indians to explore our own country first including destination marriages locally. I am sure with such a focused approach by the Government; the hospitality sector is destined for an unparalleled growth within India’s dynamic tourism and hospitality landscape.
