Hospitality sector disappointed with lack of announcements in Budget

Like every other sector, the hospitality sector has had its fair share of downs over the past two years, and hopes that this year’s Budget would offer some much-needed assistance were dashed to the gr

Like every other sector, the hospitality sector has had its fair share of downs over the past two years, and hopes that this year’s Budget would offer some much-needed assistance were dashed to the ground with almost nothing being made by the Union Finance Minister Nirmala Sitharaman on Tuesday.

Vikram Cotah, CEO, GRT Hotels and Resorts, said despite contributing 6% of GDP and being the second largest employer in the service industry, the hospitality sector had not been given any relief in this budget. “Having been badly affected by lockdowns, we had expected industry status, relief in power tariff and a tax holiday and some sops for the travel sector. But no announcement was made giving any incentive. Countries like Canada and U.K. gave cash assistance to small restaurants that found it difficult to pay their staff. But here many small establishments just folded up due to lack of support,” he said.