Union Budget Wish-List Includes Visa-Waivers and Tax Breaks: India Report
Skift Take
In the fiscal year 2023-24 budget, the Indian government showed its recognition of the immense potential of the travel and tourism sector by allocating INR 24 billion ($290 million).
The tourism sector is expected to contribute approximately 7% to India's economy, reaching INR 37 trillion ($450 billion) and employing 58 million individuals by 2033, according to the World Travel and Tourism Council (WTTC).
The interim Union Budget for 2024-25 is scheduled for February 1. Here's what the tourism industry is watching for:
The Visa Power: A key demand on the wishlist is the implementation of visa-free arrival for travelers from India's top source markets. Drawing inspiration from Asian neighbors like Malaysia, Thailand, and Sri Lanka, which already offer visa-free entry to Indian tourists, this measure is seen as a way to boost foreign tourist arrivals.
MakeMyTrip's Co-Founder and Group CEO, Rajesh Magow, emphasized that this step would not only enhance India's competitiveness in the global tourism market but also foster a reciprocal environment
