Uniform goods and services tax (GST) rate of 10 per cent on hotels and restaurants with input credit and exemption of statutory permits fee for the lockdown period among other relief measures have been sought by the tourism industry from the Union Budget 2021-22.
Amid such expectations and hope, Finance Minister Nirmala Sitharaman would present the Budget on 1 February in Parliament, an event that will be keenly watched by millions across the country.
While all industries have faced the brunt of the pandemic effect, the tourism sector is one of the worst hit as people have avoided travelling fearing infection.
There are expectations that the government would declare some stimulus measures to revive the tourism industry.
Banks need to be…