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Union Budget: What's in for the Hospitality Industry
Hotel Business Review|January - February 2025
Union Budget 2024-25, presented by the Finance Minister, Nirmala Sitharaman, has received a favourable response from the hospitality industry. There have been positive comments made by several prominent personalities of the industry. Ashok Malkani reviews the several aspects of the budget that would affect the tourism and hospitality industry and how the stalwarts of the industry feel it will affect the progress and future of the industry.
- Ashok Malkani
Union Budget: What's in for the Hospitality Industry

Tourism industry, as of 2024, contributed about 9% of GDP, thus making it an important industry in the progress of the country. Tourism has deep historical roots in the country's progress. Gajendra Singh Shekhawat, Minister of Tourism and Minister of Culture, has gone on record claiming, "Tourism in India is imbibed into the culture and DNA of Indians since ages. Wherever history goes, you will find tourism."

Since India, due to its vast collection of ancient monuments and architectural marvels like Taj Mahal, Red Fort, Qutub Minar, Khajuraho temples, and the Group of Monuments at Mahabalipuram, is often referred to as the "land of historic sites", tourists from across the globe visit India. Famous historical sites have different architectural sites (from the intricate Mughal architecture of the Taj Mahal to the rock-cut cave temples of Elephanta Caves) and UNESCO World Heritage Sites (like Red Fort, Qutub Minar, Khajuraho Group of Monuments, and the Mahabodhi Temple) making India a prominent "Must Visit" countries.

Tourism is also related, partly, to the progress and prosperity of the hospitality industry. But the progress of both these industries depends, largely, on support of the government and official bodies. The Union and State budgets are normally eagerly awaited by the hospitality industry.

The Union budget 2025-26 was presented by Finance Minister Nirmala Sitharaman in which she mentioned the following teps for promotion of tourism:

Development of Vishnupad Temple Corridor and Mahabodhi Temple Corridor modelled on Kashi Vishwanath Temple Corridor.

Comprehensive development initiative for Rajgir will be undertaken which holds religious significance for Hindus, Buddhists and Jains.

The development of Nalanda as a tourist centre besides reviving Nalanda University to its glorious stature.

Dit verhaal komt uit de January - February 2025 editie van Hotel Business Review.

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Dit verhaal komt uit de January - February 2025 editie van Hotel Business Review.

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