20% TCS Imposition To Help Boost India’s Travel And Hospitality Industry
Post-covid, people’s outlook towards travel and tourism has changed. This has, in turn, had a positive impact on the travel industry in India. Government initiatives such as ‘Dekho Apna Desh’ have granted the industry a significant boost. Also, the development of ‘Vande Bharat’ trains is expected to improve connectivity and travel experience and anticipates a huge potential for growth over the next 10 years.
Airlines and multiple regular trains have improved connectivity in key cities such as Mumbai-Ahmedabad. 20% TCS (tax collected at source) imposition on foreign travel can further boost domestic travel within the country. A good wedding season is expected to favor the demand-supply scenario, recovering the foreign tourist arrivals and driving structural growth in the industry.
Read More On: The Economic Times