A thumbs up to FM Arun Jaitley's Budget from tourism sector

In Budget speech, Jaitley pointed out that facilities at India's 25 Cultural World Heritage Sites were deficient and called for development of the locations.

NEW DELHI: The government's move to extend visas on arrival facility to 150 countries and make world heritage sites more tourist friendly has been welcomed by the industry.

Finance Minister Arun Jaitley, in his first full-year Budget tabled in Parliament today, said he proposed to "extend the visas on arrival facility to 150 countries, in stages, after the success of the same issued to travellers of 43 countries."

Reacting to the announcement, Cox & Kings Director Peter Kerkar said: "The extension of Electronic Travel authorisation (Evisas) to 150 more countries is a positive step for tourism as this sector contributes seven per cent of India's GDP and helped create more than 40 million jobs last year."

Expressing similar views, Thomas Cook (India) Managing Director Madhavan Menon said: "The Government's pro-tourism strategic vision sees continuum and we applaud the vision and long term initiatives of Budget 2015-2016 including expanding the VoA scheme to 150 countries in a phased approach..."

KPMG's India Head of Tourism and Hospitality sector Jaideep Ghosh said: "The proposed increase in the number of countries under the Visa on Arrival scheme, we expect, should catapult the inbound foreign visits to exceed 8 million in the current calendar year."

In a similar vein, MakeMyTrip.com Co-Founder and CEO India Rajesh Magow said: "The announcement of visa on arrival to 150 countries from the current 43 countries is a positive and progressive step. This will definitely boost tourism for the country and will give competitive advantage to India against other destinations in South Asia and Middle East."
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In his Budget speech, Jaitley pointed out that facilities at India's 25 Cultural World Heritage Sites were deficient and called for development of the locations.

"Facilities like landscaping restoration, signage and interpretation centres, parking, access for differently abled, amenities for visitors including securities and toilets, illumination and plans for benefiting communities around them would be restored," Jaitley said.

Welcoming the move, Menon said focus on developing World Heritage Sites is of huge value given that many are in a bad shape and have received scant attention in the past.

Expressing similar sentiments, Kerkar said the plan to make World Heritage Sites more tourist friendly was long overdue as these sites attract a large number of tourists.
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Jaitley has proposed to provide resources to start work for the following heritage sites -- Churches & Convents of Old Goa, Hampi in Karnataka, Kumbalgarh and other Hill Forts of Rajasthan, Rani ki Vav in Patan in Gujarat, Leh Palace in Ladakh in J&K, Varanasi Temple town in UP, Jalianwala bagh Amritsar in Punjab and Qutub Shahi Tombs Hyderabad in Telangana.
Budget 2015: Top takeaways for the common man
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The limit of reduction of health insurance premium was enhanced from Rs 15,000 to Rs 25,000. For senior citizens this limit has been increased from Rs 20,000 to Rs 30,000.

"For senior citizen above the age of 80 years, not eligible to take health insurance, deduction is allowed for Rs 30,000 toward medical expenditure. Deduction limit of Rs 60,000 on expenditure on account of specified diseases is enhanced to Rs 80,000 in the case of senior citizens," Jaitley said.

Additional deduction of Rs 25,000 is allowed for differently-abled persons, increasing the limit from Rs 50,000 to Rs 75,000. It is also proposed to increase the limit of deduction from Rs 1 lakh to Rs 1.25 lakh in case of severe disability.

Jaitley also proposed to provide that investment in Sukanya Samriddhi Scheme will be eligible for deduction under section 80C of the income-tax and any payment from the scheme shall not be liable to tax.

Limit on deduction on account of contribution to a pension fund and the new pension scheme is proposed to be increased from Rs 1 lakh to Rs 1.5 lakh.

Additional deduction of Rs 50,000 will be allowed for contribution to the new pension scheme u/s 80 CCD increasing from Rs 1 lakh to Rs 1.5 lakh.
The limit of reduction of health insurance premium was enhanced from Rs 15,000 to Rs 25,000. For senior citizens this limit has been increased from Rs 20,000 to Rs 30,000.

"For senior citizen ..
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The transport allowance for salaried, which currently stands at Rs 800 per month was increased to Rs 1,600 per month.
The transport allowance for salaried, which currently stands at Rs 800 per month was increased to Rs 1,600 per month.
Encouraged by the success of the Pradhan Mantri Jan Dhan Yojana, the Finance Minister proposed to work towards creating a universal social security system for all Indians, specially the poor and the under-privileged.

Jaitley said that soon Pradhan Mantri Suraksha Bima Yojana will be launched to cover accidental death risk of Rs 2 lakh for a premium of just Rs 12 per year.

Similarly, we will also launch the Atal Pension Yojana, which will provide a defined pension, depending on the contribution, and its period. To encourage people to join this scheme, the government will contribute 50% of the beneficiaries' premium limited to Rs. 1,000 each year, for five years, in the new accounts opened before 31st December, 2015.

Jaitley also announced a third Social Security Scheme, the Pradhan Mantri Jeevan Jyoti Bima Yojana, which covers both natural and accidental death risk of Rs 2 lakh. The premium will be Rs 330 per year, or less than one rupee per day, for the age group 18-50.
Encouraged by the success of the Pradhan Mantri Jan Dhan Yojana, the Finance Minister proposed to work towards creating a universal social security system for all Indians, specially the poor and the ..
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Jaitley announced that with respect to Employees Provident Fund (EPF), the employee needs to be provided two options. Firstly, the employee may opt for EPF or the New Pension Scheme (NPS). Secondly, for employees below a certain threshold of monthly income, contribution to EPF should be optional, without affecting or reducing the employer's contribution.

He said, with respect to ESI, the employee should have the option of choosing either ESI or a Health Insurance product, recognized by the Insurance Regulatory Development Authority (IRDA).
Jaitley announced that with respect to Employees Provident Fund (EPF), the employee needs to be provided two options. Firstly, the employee may opt for EPF or the New Pension Scheme (NPS). Secondly, ..
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Jaitley in his Budget Speech in proposed no change in the rate of personal Income-tax.

However, Jaitley proposed to levy a surcharge at the rate of 12% on individuals, HUFs, AOPs, BOIs, artificial juridical persons, firms, cooperative societies and local authorities having income exceeding Rs 1 crore.
Jaitley in his Budget Speech in proposed no change in the rate of personal Income-tax.

However, Jaitley proposed to levy a surcharge at the rate of 12% on individuals, HUFs, AOPs, BOIs, artif..
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To promote creation of jobs, Jaitley announced a series of cuts in customs and excise duties in the Budget. Customs duties on certain inputs like metal parts, insulated wires and cables, refrigerators compressor parts, compounds used in catalytic converters, sulphuric Acid for use in manufacture of fertilizers and compounds of video Cameras have been reduced.

SAD is reduced in Metal scrap of iron & steel, copper, brass and aluminum from 4% to 2% to address problem of CENVAT credit accumulation. For inputs for use in the manufacture of LED driver and MCPCB for LED lights, fixture and LED lamps SAD is reduced from 4% to Nil.
To promote creation of jobs, Jaitley announced a series of cuts in customs and excise duties in the Budget. Customs duties on certain inputs like metal parts, insulated wires and cables, refrigerator..
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With a move to up the employability of youth, the government will launch a National Skills Mission through the Skill Development and Entrepreneurship Ministry.

The Mission will consolidate skill initiatives spread across several Ministries. Jaitley also proposed to set up an IIT in Karnataka, and upgrade Indian School of Mines, Dhanbad into a full fledged IIT. IIMs will be set in J&K and Andhara Pradesh, FM added.

Three new National Institutes of Pharmaceuticals Education and Research are proposed to be set up in Maharashtra, Rajasthan and Chattisgarh along with Institutes of Science and Education Research in Nagaland and Odisha.

For the North Eastern States, a Centre for Film Production, Animation and Gaming will be set up in Arunachal Pradesh while an Apprenticeship Training Institute for Women will be set in Haryana and Uttarakhand during 2015-16.

To enable all poor and middle class students to pursue higher education of their choice without any constraints of funds, a fully IT based Student Financial Aid Authority is proposed to be set up during the year 2015-16.
With a move to up the employability of youth, the government will launch a National Skills Mission through the Skill Development and Entrepreneurship Ministry.

The Mission will consolidate ski..
Read More
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