6 ways the 2016-17 budget benefits the food and hospitality segment
The word “Budget” gathers a lot of attention in the mind of a common man. People will be eager to know the prices of what’s cheaper and what’s dearer. We can even eye-witness people watching the televisions as if final results of the academic year are out! No wonder budget affects anybody and everybody in the nation. It was a tough task for Finance Minister Arun Jaitley to present the challenging Budget on Monday.
Below given are few insights based on the opportunities that can be grabbed from the 2016-17 budget for the HoReCa segment.
- There is a constant thought on improving the infrastructure of cities throughout the nation. Ultimately this would promote more number of developing cities which would require food and hospitality services.
- More than 85% of stalled highway projects are back to track, which would increase the probability of travelling through road than rail, which again gives an excellent chance to set up highway restaurants & motels
- In addition there is a proposal on de-congesting the roads by moving loads through water ways instead of trucks. Thus, this process will free up most of the GT roads and highways. Eventually, cars would make a comeback on the road and this would be again a big opening chance for highway motels and classy dhabas to make a buck.
- In case you were dreaming of opening a food outlet then that can be made real. As banks are under the hammer to help entrepreneurs to set up new business, which is in turn providing a better key to access credit and make your dream come true.
- The thrust on Make In India with special allotment in the budget would help many manufacturing units to be set up by foreign companies. This would surely attract expats to India who would love to live in fashion. There by creating a raise in the high end bookings. Setting up of more number of manufacturing plants would naturally create more opportunities for caterers who can easily take advantage of serving food in the units.
- It is needless to mention all the above opportunities would grow on the back bone of a strong HoReCa supplies network. Hence all the equipment manufacturers can expect healthy orders in this fiscal.