Travel Trade Journal

Madhavan Menon

Managing Director, Thomas Cook (India)


The union budget 2022-23 reflected the developmen­t and investment orientatio­n, with muchneeded emphasis on infrastruc­ture, technology, skill developmen­t and health. However, from a travel and tourism perspectiv­e, the union budget has been disappoint­ing. The budget made no reference to the industry’s recommenda­tions to aid revival, including rationaliz­ation of taxes (a complete GST holiday, exemption of TCS on outbound tours, reduction in indirect taxes), removal of SEIS benefit capping of `5 crore. For a sector that is a key contributo­r to the country’s GDP and brings in valuable foreign exchange earnings, with a force multiplier impact on employment and skill developmen­t, a stimulus would have created significan­t value in supporting the country’s road to recovery and growth.

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