Hospitality Sector Eyes Infrastructure Status, GST Reforms in Upcoming Budget

The hospitality sector is hopeful for receiving infrastructure status and GST reforms in the upcoming Union Budget 2025. Industry leaders believe that the recognition of hospitality as an infrastructure sector will unlock benefits such as easier access to finance, reduced interest rates, and enhanced government support. Additionally, the GST regime applicable to the sector could see significant reforms, including the reduction of tax rates and improved compliance mechanisms. The hospitality industry has faced several challenges in recent years, particularly due to the COVID-19 pandemic, and these measures are expected to provide the necessary impetus for growth and recovery. The sector is poised to benefit from these proposed changes, which could revitalize its prospects for the future.