Key Points
Nirmala Sitharaman. to seek support for the industry in the union budget. The letter states restaurant industry is a significant contributor to the national economy and one of the highest employment creators in India, currently employing over 7.2 million Indians directly in the sector...
The industry body asserts with an annual turnover of approximately Rs 4.23 Lakh crores, the restaurant industry, is the third largest after retail and insurance in the services segment..
The SEIS scheme has been discontinued recently, letter says and requests, the same to be reinstated with a duty credit of 10% of the forex earned by the restaurant entities to boost Industrys growth...
and longer operating hours.. NRAI also suggested targeted subsidy schemes and access to debt financing for small and medium enterprises be made available to restaurant industry and an employee welfare plan as there are no special packages or welfare funds or pension plans for the employees in this industry...
Balanced, fair and equitable policies by the Government with respect to GST Input Tax Credit, Rationalised Licensing norms and E-commerce policy will not only benefit businesses and consumers but also make a substantial contribution to overall economic growth and employment opportunities..
