Budget 2018: A toast to entrepreneurship, says OYO CEO Ritesh Agarwal

This year’s Budget stands for entrepreneurship, employment and quality of life. The announcements will benefit the MSME (micro small and medium enterprise) sector, including small hotels. The Budget will facilitate the growth of our partner hotels in the MSME sector. The Mudra loan allocation of Rs 3 trillion will help in enabling SMEs to generate more jobs, while creating thousands of new entrepreneurs. An announcement on calculating goods and services tax (GST) on the actual price rather than the declared tariff for hotel accommodation was expected. 

The change in the GST norms are in the interest of the hospitality industry.