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Excitement and optimism runs rife as intended positivity scores, checking boxes at Budget 2025. Initiatives to enhance Viksit Bharat Vision 2047 have been addressed with emotional intelligence. The pragmatic question to answer is whether the mind is without fear as the head is held high. Prima facie, the pros appear to outweigh the cons, but are there many slips between the cup and the lip? This perspective on prospects aims to address five areas: aspiration, consumption, infrastructure, skilling/start-ups and well-being/spirituality for hospitality and by extension, its education sector. 1. Aspiration: Topping the list, is anticipating spends through increased discretionary funds, putting more cash in the hands of prospects. And by foregoing INR 1 trillion in tax revenues, food and beverage checks may raise the ante - as food processing, seafood, pulses, ready to eat foods, drive the manufacturing agenda. Truly speaking, the state of GDP growth has steadied from 3.87% in 2019-20, at 6.37% in 2024-25, after seeing 9.69% in 2021-22 and 8.15% in 2023-24. True that RevPARs are up 26-28% over the INR 4500 mark countrywide in the same period between 2019 to 2024. And ARRs did grow 31-33% with the needle touching INR 7500 levels as rooms became more valuable around then. It now needs to be demographically established that ARRs will enhance, on account of this sub-INR 12 lpa micro-market tax relief. A revenue segment TA now hopefully plush with cash, may aspire check-in to hotels at leisure. 2. Consumption: Will this audience truly fly to the 120 new destinations in Tier 2-3 cities as Udaan re-connects? And will revenues get supplemented from global appeal, through e-visas by aiding inbound travellers? This remains to be seen, even as domestic traveller hordes, travel about unabashedly (as auto sales testify, due to better roads). A well-meaning farm to fork agri-initiative will need an overhaul in postharvest infrastructure at scale, boosting food sales. The profusion of food delivery apps as a %u2018go-to%u2019 will need nicer terms of endearment to cater to this demand. Economically, the availability of cash to access purchase of valued items, may in fact send AI enabled e-commerce ecosystems on mobile networks into overdrive. These must work double-time to deliver popular electronic goods to discerning audiences that order-in, rather than going out to consume, they had rather be served where they prefer.3. Infrastructure: Building and branding destinations, Top 50 to begin with, will also need to consider access aside Mudra loan releases. MRTS or similar means to enhance urban to mofussil travel could be an enabling connector. Consider urban commutes, typically by hospitality and similar-industry talents. They may have free cash, aspiration and desire but a relevant facilitating mechanism to aid experience needs rethink. PPPs may aid access, subject to investments meeting short term tactical, insular objectives. And while more hotels, resorts and homestays get built in time, a sustainable mobility solution needs to be prioritized, as both guests and staff need to be able to reach destinations without stress. Al could potentially save future implementation heartache as RoI pressures gather momentum. And acceptance to avail subsidies, as part of the burgeoning infrastructure sector, real icing on the infra cake. 4. Skilling/Start-Ups: Job preparedness and employment are real benefits as 140 million temporary and permanent jobs get created in five years. 5 national hospitality and tourism skilling centres need to address the mismatch between skills taught in educational institutions against the dynamic demands of employers. Credible research indicates that 53% graduates and 36% postgraduates remain underemployed. And this as AI could trigger big shifts in labour markets while India%u2019s VISWAM and SARVAM play catch up with DeepSeek. Big budgets allocated to MoSDE/MeitY could dovetail empowering next generation entrepreneurs as employability trounces employment capacity. Global Innovation Hubs focusing on quality, research and development need to solve 300-foot issues before 30000 feet future preparation. Empowerment of both the employable as well as employer communities remain. 5. Well-Being/Spirituality: Perfectly timed is Heal In India, with medical tourism promising to be the next billion spinner. If opening the gates from South East Asia promoting and enhancing the Buddhist circuit is any indicator, heritage, culture, spirituality and an enormous outlay for religious tourism promise to rekindle a potent solution, that works! Emotional well-being, meditation, yoga, alternate and natural therapies including the Ayurveda renaissance with branded retail offthe-shelf marketability are only one tip of the solution pyramid. If the revenue management genius of Kumbh Mela is intriguing as a celebrated case example, this inherent ingenuity is definitely well-ensconced. What we definitely need to stay focused on is this attention to holistic well-being, to ensure that emotions are balanced with rationality as we progress. Monies aside, here is a deeply entrenched culture that holds high volume revenue potential, only if properly democratized.Historical discussions have dominated demands of financial and policy support, to address a much-needed industry status. Ease of doing business, end-user value chain tax rationalization and relief measures to address high fixed costs remain moot. Murmurs regarding GST input credit and tax status clarity loom large in practical terms. Yet a hypothetically strategic, economic and tactical approach to address existing pain-points holds value! And a fraction of the tax-paying population remains placated. nThe views expressed within this column are the opinion of the author, and may not necessarily be endorsed by the publication.Budget Highlights 2025| Perspective On ProspectsBy Prof. Satish Jayaram, PhD %u2013 Ideator | Innovator | IncubatorHOSPITALITY BIZ n FEBRUARY, 2025WWW.HOSPITALITYBIZINDIA.COMEXPERT SPEAK 7