EaseMyTrip Co-Founder Rikant Pitti Predicts Higher GDP Growth and Calls for Focus on Tourism
Gurugram (Haryana) [India], July 23: As Finance Minister Nirmala Sitharaman presented the Economic Survey and is set to present the Union Budget 2024, EaseMyTrip co-founder Rikant Pitti shared his optimistic views on India’s GDP growth rate.
Pitti stated, “Last year our GDP growth rate was around 6.5%, and this time as well, the economic survey suggests around 7% growth rate. In the coming time, our GDP growth rate will become even better.”
Focus on Tourism
Speaking about the tourism sector, Pitti highlighted its potential for job creation and urged the government to focus more on it. He said, “Tourism is a link between industry and the local populace. Investment has been increasing in India. We are expanding across tourism categories. We hope that the government puts in a little more focus in this sector as it will provide a lot of employment opportunities.”
Union Budget 2024
Finance Minister Nirmala Sitharaman arrived at the Ministry of Finance ahead of the Union Budget presentation. This will be her seventh consecutive budget, surpassing the late Moraji Desai’s record of six consecutive budgets. The budget is expected to focus on changes in the income tax structure and improving the ease of doing business in India.
Economic Survey Insights
The Economic Survey 2023-24, presented by Sitharaman, predicts a 7% growth rate for the Indian economy in the medium term. The survey emphasizes the need for a collaborative effort between the Union Government, State Governments, and the private sector to achieve sustainable growth. It also highlights the unique opportunities and challenges India faces amid global trends such as geo-economic fragmentation, climate change, and technological advancements.
Doubts Revealed
EaseMyTrip -: EaseMyTrip is a company in India that helps people book travel tickets, like flights and hotels, online.
Rikant Pitti -: Rikant Pitti is one of the people who started EaseMyTrip. He helps run the company and make important decisions.
GDP -: GDP stands for Gross Domestic Product. It is a way to measure how much money a country makes from all the goods and services it produces.
Economic Survey -: The Economic Survey is a report by the Indian government that looks at how the economy is doing and makes predictions for the future.
Tourism sector -: The tourism sector includes all the businesses and activities related to people traveling for fun, like hotels, travel agencies, and tourist attractions.
Union Budget -: The Union Budget is a plan made by the Indian government about how it will spend money and collect taxes for the next year.
Nirmala Sitharaman -: Nirmala Sitharaman is the Finance Minister of India. She is responsible for making decisions about the country’s money and budget.
Income tax structure -: The income tax structure is the system that decides how much money people and businesses have to pay to the government based on their earnings.