Budget 2017 is expected to be one of the most difficult and watershed budgets in the history of India. There are too many variables, like demonetisation, the mid-year introduction of GST (Goods & Services Tax) and its uncertainty in tax revenues; and most importantly, the expectations of the poll going public and the rest of the country who are expecting the next benefits after enduring the pains of demonetisation. Of course, there’s the advancement of the budget date and the merger with the rail budget.
Aviation and travel are enablers of the economy and no longer a rich man’s indulgences. Governments across the world have realised this and are spurring demand in travel. Governments in India have been continuously raising taxes on these sectors and are dampening demand due to rising travel expenditure. The recent six fold increase in service tax on hotels and doubling of service tax on packages is an example of this and we need to move in the opposite direction, especially as travel was affected slightly post demonetization.
To Read the News in Full 30/01/17 Bangalore Mirror/Bharath Mahadevan
Aviation and travel are enablers of the economy and no longer a rich man’s indulgences. Governments across the world have realised this and are spurring demand in travel. Governments in India have been continuously raising taxes on these sectors and are dampening demand due to rising travel expenditure. The recent six fold increase in service tax on hotels and doubling of service tax on packages is an example of this and we need to move in the opposite direction, especially as travel was affected slightly post demonetization.
To Read the News in Full 30/01/17 Bangalore Mirror/Bharath Mahadevan
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