Finance Minister Nirmala Sitharaman proposed a simpler tax regime for foreign shipping companies operating domestic cruises in India during the Union Budget.

Finance Minister Nirmala Sitharaman proposed a simpler tax regime for foreign shipping companies operating domestic cruises in India during the Union Budget presentation. This move aims to boost the cruise tourism sector, improve the Indian shipping industry's market share, and generate more employment. Sitharaman also highlighted new reforms in ownership, leasing, and flagging to achieve these goals.