Budget 2025 Expectations | Travel sector hopes to reduce operating costs, increase efficiency, says TripJack Director Hussain Patel

Finance Minister Nirmala Sitharaman will present the 8th consecutive Union Budget on February 1, 2025. Reports suggest that the government is mulling over cutting income tax for those who are earning up to Rs 15 lakh a year in February's budget, in turn providing relief to the middle class.

The travel and tourism sector has pinned high hopes on the Union Budget FY 2025-26 documents and is keeping its fingers crossed regarding their expectations from the government's most important financial document of the year.

TripJack DIrector, Hussain Patel said, "The travel and tourism industry anticipates that the Union Budget will address key challenges and foster sustained growth. Rationalizing GST rates for travel agents and introducing input tax credits can reduce operational costs and enhance market competitiveness.

"Simplifying compliance processes can further improve administrative efficiency for businesses. Emphasizing digitization and targeted skill development programs can empower travel agents to adapt to emerging industry trends," he added.

"Additionally, promoting domestic and inbound tourism through innovative awareness campaigns and eco-friendly initiatives can drive sustainable development and bolster the sector’s long-term potential,” he added.

Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.