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Budget 2021: Key expectations of food services industry

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Budget 2021: Key expectations of food services industry

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"Hopefully 2021 will be better for the food services business than 2020," said Sanjay Kumar, MD and CEO, Elior India, in conversation with CNBC-TV18.

"Hopefully 2021 will be better for the food services business than 2020," said Sanjay Kumar, MD and CEO, Elior India, in conversation with CNBC-TV18.
"Food service business is witnessing growth, what we still await is the return of corporates to work. Some of that should start happening only in Q2 and that is impacting a lot of things, not just food services. It is impacting consumption, it is impacting transport and it is impacting hospitality. I don’t think we are yet out of the crisis that this industry faced in 2020," he said.
Speaking about expectations of the industry from Budget 2021, he said, "We expect no more unexpected events. Second thing is about restoring the input tax credit, the food service industry currently has a strange situation that it gets taxed on revenue and not on income. That is rather difficult. This sector has the highest level of employment beyond real estate."
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