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Government not lending ear to hospitality sector
Government not lending ear to hospitality sector
Though the hospitality sector has welcomed the extension of ECLGS (Emergency Credit Line Guarantee Scheme), it was disappointed with the government not heeding to the demand of providing industry status to the sector.
Hyderabad: Though the hospitality sector has welcomed the extension of ECLGS (Emergency Credit Line Guarantee Scheme), it was disappointed with the government not heeding to the demand of providing industry status to the sector.
Talking to The Hans India, the Hotel and Restaurant Association of Telangana State (HRATS) Ian Dubier said that the travel and tourism sector was one of the sectors which were badly affected because of the pandemic and it is almost now two plus years and the recovery has been slow. The positive that came out of the budget was obviously the ECLGS that has been extended. This is definitely going to benefit the hotel industry and it can reduce some kind of immediate financial burden.
The HRATS president said that there is going to be a lot of spending this year. The capital spend is going up almost by 35 per cent from Rs 5.5 to Rs 7.5 lakh crore. "It is going to get some form of investments in various cities and I hope it also happens in the city of Hyderabad. When that does happen, that would also give some kind of movement in terms of corporate traffic, investors coming in, small little meetings etc.,. It is a very big thing for the entire country and I am sure when it filters out that it should help in some kind of moment in traffic into various cities and obviously benefit the hotel industry," said Ian Dubier.
The sector was disappointed over the denial of industry status to the hospitality sector. Since a long time the sector has been waiting to be given industry and infrastructure status, something that would have been really good as it would have been a huge benefit for hotels across the country. "We would have liked to see in the budget as we would have liked to see some kind of tax rebate. Incentivise the domestic market, tax reduction on expenditure on hotels, airlines and the entire tourism industry. It would have incentivised people to continue their holidays. Now people do take holidays domestic but once international opens up, a lot more people wanting to go out. Some kind of tax reduction in expenditure domestically gives them incentives to spend in the country," said Dubier.
