The Union Budget 2025 will be presentedon Feb. 1. (Photo source: NDTV Profit/ Canva)
1 year ago
Jan 21, 2025
The Union Budget 2025 will be presented by Finance Minister Nirmala Sitharaman on Feb. 1. This will be her eighth budget since assuming office in 2019.
ICRA anticipates a balanced approach in budget 2025-26, prioritising fiscal consolidation while also pushing for infrastructure and manufacturing growth.
ITC Hotels Ltd., the hotel arm of ITC Ltd., will list before the budget day, according to people aware of the development.
ITC Hotels was demerged as a separate entity with effect from Jan. 1, 2025, and is supposed to list within 60 days. The record and ex-date for the demerger was Jan. 6, 2025.
On Jan. 6, through a special pre-open session, the hotel assets of ITC were demerged from the cigarette major. The demerged portion was valued at Rs 26 per share and continues to remain dormant along with ITC on nearly 60 indices including the benchmark NSE Nifty 50 and BSE Sensex 30.
Ahead of the Union Budget, the hospitality industry wants the government to support growth through targeted measures, said Rajesh Magow, co-founder and Group CEO of MakeMyTrip.
Key demands include granting long-awaited industry status to attract investments, allowing GST credit for hotel construction, and rationalizing GST rates to lower accommodation costs. These steps could boost domestic tourism and enhance inbound travel. Additionally, the sector hopes for resource allocation to bolster the "Incredible India" campaign on an international scale.
