Post Budget Reaction Quotes by Travel Industry
The Union Budget 2023-24 presented by Finance Minister (Nirmala Sitharaman) is a goal Oriented to overcome economic challenges. Let's see the reactions and views from Travel Industry .
Founder and CEO, Akasa Air
“The Interim Budget presented by Hon’ble Finance Minister is a fine reflection of new India and will strengthen India’s position as a global economic powerhouse.
We would like to acknowledge the government’s efforts towards galvanising the nation’s aviation industry, by doubling the number of airports and fostering holistic air connectivity that enabled 1.3 crore Indian citizens to travel by air. The focus on inclusive and sustained growth is a welcome move and will catalyse India’s progress.
As India’s fastest-growing airline with an orderbook of over 200 aircraft, we are energised by the government’s continued focus on enhancing air transport infrastructure to make air travel accessible for a greater number of Indians.”
The interim budget brings a ray of optimism for the Amusement and Tourism Industry. The announcement regarding the development of tourist centers at locations hosting G20 meetings is particularly promising, as it signals future growth opportunities in tier 2 and 3 cities. This initiative is poised to create employment opportunities and foster economic prosperity in these regions. Additionally, the provision of long-term interest-free loans to states for financing will facilitate the development of tourist centers, further boosting the industry.
The budget’s emphasis on enhancing air connectivity, ports, and railways will streamline travel to tourist destinations, addressing the last-mile connectivity issue for both domestic and international tourists. Furthermore, the focus on controlling fiscal deficit underscores the government’s commitment to maintaining a stable economic environment conducive to tourism growth. Despite being an interim budget, it offers significant strides towards bolstering the tourism sector’s growth and development.
Co-founder & Group CEO, MakeMyTrip
“We acknowledge, with satisfaction, the government’s sustained focus on travel and tourism as reaffirmed in the interim budget. The commitment to bolster domestic tourism through initiatives spanning rail and air travel, coupled with the ongoing emphasis on tourism-led destinations, particularly in the realm of island tourism and spiritual tourism, reflects a strategic vision for the long-term growth of the T&T sector.
The allocation of interest-free loans to state governments for the creation of iconic tourist destinations is a noteworthy step. The expansion of airports and the PM Gati Shakti program are pivotal in enhancing connectivity to previously unexplored regional gems. These initiatives will take domestic discovery to farther reaches of the country, thereby empowering local entrepreneurs and creating employment opportunities.
While the specifics are yet to be seen, collaboration between the industry and the government is key to maximizing impact, ensuring quality standards, and fostering sustainable tourism models for an enhanced traveller experience.”
“Tourism cannot grow without investment. We welcome the government’s initiatives on developing iconic tourist centers and investing in tourism and connectivity infrastructure. Measures such as long term loans to states will foster long term development and unlock India’s tourism potential. We hope for more measures from the government that continue to build our air infrastructure and hospitality sector. This development will not just invite the world to explore our heritage but also ignite local economies and our pride!”
“We celebrate the visionary steps taken in Union Budget 2024 by FM Sitharaman, maintaining tax stability for a robust economic environment. The laudable commitment to boost domestic and inbound tourism through island projects and Metro Rail expansion is noteworthy. With the inauguration of the Ram Mandir, emphasis on ‘Wed in India,’ and ‘Vocal for Local,’ the government passionately promotes domestic tourism, aligning with PM Modi’s vision. The announcement of 149 airport expansions will significantly enhance domestic travel. FM Sitharaman’s foresight promises a golden era of unprecedented development in our nation over the next 5 years. Furthermore, by prioritizing the empowerment of youth and enhancing digital, social, and physical infrastructure, the government is actively encouraging the younger generation to play a pivotal role in the country’s growth and contribute significantly to the GDP. FM Sitharaman’s holistic approach ensures that our youth becomes an integral force in shaping the prosperous future of our nation.”Naveen Nahar, Partner, Travelz Factorry