Chandigarh February 27:
The economic meltdown and recession hit hospitality and realty sectors got a breather with Deputy Chief Minister Sukhbir Singh Badal announcing a stimulus package for hospitality and realty sectors of the State by slashing luxury tax to 4 per cent from 10 per cent and 8 per cent in marriage palaces.
Addressing two different meetings of Punjab Hotel, Restaurant, Marriage palace and Resort Association, Badal said: "Only way to overcome recesession was to increase government investment in infrastructure sector. He said that SAD-BJP government was following the same principal by focusing on infrastructure sector."
Describing hospitality sector as the engine of growth of an economy, Badal said the SAD-BJP government was committed to stimulate this industry by announcing cut in luxury tax. He said that reduction of luxury tax to 4 percent from 10 and 8 percent would provide much needed boost to this industry. He promised that if NDA was voted to power he would get hotel sector declared as infrastructure sector that would enable hotel industry much better tax and bank interest concessions.
He said that we should learn from tourism industry of Bangkok and said despite being a small town Bangkok was getting 8 million tourists per year compared to 2 million received by India.
The economic meltdown and recession hit hospitality and realty sectors got a breather with Deputy Chief Minister Sukhbir Singh Badal announcing a stimulus package for hospitality and realty sectors of the State by slashing luxury tax to 4 per cent from 10 per cent and 8 per cent in marriage palaces.
Addressing two different meetings of Punjab Hotel, Restaurant, Marriage palace and Resort Association, Badal said: "Only way to overcome recesession was to increase government investment in infrastructure sector. He said that SAD-BJP government was following the same principal by focusing on infrastructure sector."
Describing hospitality sector as the engine of growth of an economy, Badal said the SAD-BJP government was committed to stimulate this industry by announcing cut in luxury tax. He said that reduction of luxury tax to 4 percent from 10 and 8 percent would provide much needed boost to this industry. He promised that if NDA was voted to power he would get hotel sector declared as infrastructure sector that would enable hotel industry much better tax and bank interest concessions.
He said that we should learn from tourism industry of Bangkok and said despite being a small town Bangkok was getting 8 million tourists per year compared to 2 million received by India.
