OTOAI writes to Finance Minister, ET TravelWorld News, ET TravelWorld

Include outbound tours under LTC scheme, provide GST and TCS concession: OTOAI writes to Finance Minister
The outbound Tour Operators Association of India (OTOAI) has written to the Union Finance Minister Nirmala Sitharaman, forward of Budget 2022, requesting sure aid measures and concessions for the outbound tour operators. The affiliation in its letter has demanded the federal government to roll again TCS on outbound tour packages, not make Pan Card necessary for international remittances and aid from GST for a minimal interval of two years.

Further, OTOAI has requested the Finance Ministry to grant loans to journey brokers and tour operators at decrease rates of interest for a interval of not less than one yr. It additionally requested to incorporate outbound excursions underneath the federal government’s LTC Scheme in order that enterprise avenues can develop for outbound tour operators. Lastly, the affiliation has sought the much-awaited business standing for the journey and tourism sector.

Sharing particulars and commenting on the event, Riaz Munshi, President, OTOAI stated, “We understand the plight of the outbound sector, which has suffered immensely in the last 22 months. The decision of yet again postponing the movement of commercial international flights from India till February 28 has not only dampened our spirits but also closed the business doors for us. Thus, it becomes vital that the government offers some relief to the outbound tour operators by taking into consideration the above-mentioned requests made by us. At OTOAI, we are constantly striving to work towards the benefit, upliftment and care of the outbound tour operators in India and we hope the government listens to our requests.”

Ahead of the Union Budget 2022-23, the journey, tourism, aviation, and hospitality industries have sought measures to convey out structural modifications and assist the stakeholders climate the storm amidst the third wave of the Covid-19 pandemic.

The affiliation in its assertion talked about that it has written to the Finance Minister making her conscious of the truth that the tourism sector in India gives employment to 8-10 per cent of the whole inhabitants and is without doubt one of the main sectors for financial progress. “In FY20, the tourism sector in India accounted for 39 million jobs, which was 8 per cent of the total employment in the country. By 2029, it is expected to account for about 53 million jobs. As per figures compiled by Statista, a research agency, the total direct and indirect employment generated by travel and tourism sector in India was 12.38 per cent. Further according to India Brand Equity Foundation, Indian tourism industry is set to rise at 6.2 per cent a year by 2029 reaching the economic size of INR 35 trillion (US Dollar 688 billion). The sector will provide employment equivalent to 9.2 per cent of the total. These facts and figures clearly reinstate the importance of the tourism sector,” stated OTOAI in its communication.

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