Mumbai, Jan 22 (PTI) The Travel Agents Association of India (TAAI) has sought in the upcoming Union budget a ‘One India One Tourism’ approach, including ‘One Tax Structure’, to revitalize pandemic-affected domestic travel to blow. tourism and hospitality.
In addition, the association has sought to bring Aviation Turbine Fuel (ATF) under the purview of GST to make air travel “more viable” for all stakeholders and to expand the Emergency Credit Line Guarantee Scheme (ECLGS).
Also read | Indian Army Recruitment 2022: Apply for Short Service Commission Course at joinindianarmy.nic.in; Please check other details.
There are several aspects that can be expected in the coming budget to support the whole sector of “travel tourism and hospitality” which will help to revitalize this sector and make it survive, said TAAI, led by Jyoti Mayal, in a statement on Saturday.
“For this, it is extremely important for both the central and state governments to work together to facilitate and support this sector to be included in the contemporaneous list to get the status of the industry to make it more structured,” he said. the Union.
Also read | Rahul Gandhi calls fire in Mumbai ‘tragic’, urges party workers to lend aid.
TAAI said the government should aim to increase middle-class disposable income to encourage that discretionary spending.
According to the travel agency, concrete steps should be taken to improve cash flow and reduce the working capital burden for startups, existing SMEs and SMEs, along with access to easy credit, reduction of the income tax rate and GST rate, elimination of tax at source (TCS) and payroll support with ease.
In addition, strengthening SMEs, creating a fund of technology adoption funds for use in Industry 4.0, reviving the Credit Linked Capital Subsidy Scheme (CLCSS) for technology upgrades are the other steps TAAI anticipates in the upcoming Union budget, it said.
To revitalize this struggling sector, “we need a ‘One India One Tourism’ approach, including ‘One Tax Structure’,” TAAI said in the statement, adding that key points to consider are the exemption from e-visa fee is for all tourist visas for 2022 -2023, supporting the status of inbound revival of tourism export earnings.
It has also sought dual allocation of expenditures for the Ministry of Tourism to enable intensive global outreach to support the inbound boom, as well as domestic travel income tax credits for Indian citizens and Indian businesses to support domestic retail and domestic MICE ( meetings, incentives, conferences and exhibitions).
The association is also looking at a global bidding fund in the Union Budget 2022-23 to enable bidding support for Indian MICE companies to bring global MICE events to India, according to TAAI.
Finally and most essential is a structured mechanism to secure travel agent payments to ensure the safety of travel agents and operators, it said.
TAAI added that the payments from travel agents to clients are unsecured credit and that some form of mechanisms, be it escrow or guarantee or underwriting mechanisms, must be put in place to secure money from travel agents.
(This is an unedited and auto-generated story from the syndicated news feed, the Laatstely staff may not have changed or edited the content)