As the Union Budget 2010 draws closer, CNN-IBN take a look at the budget expectations of India Inc. from the Union Minister for Finance, Pranab Mukherjee. Ankur Bhatia, Executive Director, Bird Group and MD, Amadeus India lists his demands and expectations from the government.
Aviation Sector
"The Indian aviation industry went through a tough phase in 2009 with a total loss of Rs 8,000 crore during 2008-09. The major issue for the industry is that it is currently tapping a meager 10–15 percent of over 300 million potential travelers in India because of the paucity of airport connectivity across the country. In order to increase this percentage and see growth to the tune of hundreds of millions, it is imperative that the focus is shifted towards developing regional centers. We hope that the government would look at this viewpoint and shift its focus in developing regional airports. Additionally, the government should also look to standardize ATF taxes, given that the GST will soon be implemented."
Tourism Sector
"The hotel industry saw a drop of over 50 percent in occupancy levels during peak season in 2008–09. We are expecting that the government reviews the current situation and considers offering tax breaks for hotels, especially for the projects that will be operational prior to the Common Wealth Games and not restrict it to only the ones that are in operation by March 31, 2010. As most of the projects are likely to be completed only later, majority of the industry will not benefit under the current rules."
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