Union Budget 2024 Expectations Live Updates: Will Modi’s Budget propel India’s stock market to new heights?

India General Budget 2024 Live: Nishant Pitti, CEO and Co-Founder, EaseMyTrip, said, “As India gears up for a full budget following the elections, the travel and tourism industry is poised for significant growth and development. The interim budget of February 2024 had already set a positive roadmap, with substantial increases in budgetary allocations for the tourism ministry, highlighting a clear focus on enhancing tourism infrastructure. This approach aims to boost domestic tourism and create new job opportunities.”

“The government’s commitment to improving connectivity through new railway and port corridors, alongside the growth of air connectivity and airport infrastructure, aligns with the broader economic goals. These initiatives are expected to stimulate local economies and attract both domestic and international tourists.”

Pitti added, “The emphasis on Foreign Direct Investment (FDI) and the development of iconic tourist centers further underscore the government’s strategy to leverage tourism as a catalyst for economic growth. While there were some reductions in overseas promotion budgets, the focus on developing infrastructure and connectivity is anticipated to have a long-term positive impact. In the aviation sector, the doubling of airports and the success of the Udan scheme are notable achievements. The planned expansion of rail services and the continued development of new airports will further enhance travel experiences across India. Overall, the travel and tourism industry is set to benefit from these strategic initiatives, fostering growth, employment, and increased international collaboration. The new budget is expected to build on these foundations, ensuring sustained progress and positioning India as a premier global tourist destination.”