Top Gainer: Shares of Easy Trip Planners Ltd rose more than 11% on Saturday after Union Finance Minister Nirmala Sitharaman announced plans to boost the tourism sector in Budget 2025. Easy Trip Planners Ltd, the parent company of online travel aggregator EaseMyTrip. This stock has seen tremendous growth since the Finance Minister's announcement. The stock closed at Rs 14.25 with a gain of 7.87%.
Promotion of tourism sector
The Finance Minister said that the government will develop 50 major tourist destinations of the country in partnership with the states. For this, the facility of Mudra loan for homestay will be increased. Also, medical tourism will be promoted in collaboration with the private sector.
While presenting the budget, the Finance Minister also said that special attention will be given to the development of sites related to Lord Buddha. Apart from this, financial assistance will be provided for the Western Kosi Canal project, which will provide irrigation facility to 50,000 hectares of land in Mithila region of Bihar. Hotel sector will benefit The government has announced to include the hotel industry in the Harmonised Scheme. Apart from this, visa fees will be waived for some foreign tourist groups. Increase in TCS limit The government has proposed to increase the limit of Tax Collected at Source (TCS) from ₹ 7 lakh to ₹ 10 lakh under the Liberalised Remittance Scheme (LRS). Under this scheme, Indian residents (including minors) can remit up to $2,50,000 abroad per business year. What did the co-founder say Meanwhile, Easy Trip Planners Ltd co-founder Nishant Pitti had tweeted on the social media platform "X" in January that he will not sell his stake in the company any more. He also confirmed this in a conversation with CNBC-TV18. He informed that the recently sold 1.4% stake was due to his personal needs, but now he, Prashant or Rikant Pitti will not sell any further stake. He also clarified that his 14.2% stake in the company was never completely available for sale.