BUDGET REACTION 2016-17
Vishal Kamat, CEO, Kamat Hotels
The Budget was a dry one from tourism’s perspective but it was not particularly a bad Budget but rather a “status quo” Budget. While we did not receive sops as far as taxation is concerned, there was not much additional burden that was imposed either.
Overall measures like Swachh Bharat that promote overall sanitation, awareness and education will improve the civic sense which will have an indirect impact on the tourism sector.
Moves to revive nonfunctional airstrips may not impact us as well if airlines find that the routes are non-profitable. We already have good connectivity to the capitals of some Tier II cities and second level capitals like Bhubaneshwar for example. One will have to wait and see how much value will be added by this move.
As far as the F&B sector is concerned, I think the industry has learned to live with instability and heavy fluctuations in commodity prices. The control over inflation obviously helps the F&B sector and is a postive.