NEW DELHI: Industry associations FICCI and the Federation of Associations in Indian Tourism & Hospitality (FAITH) on Wednesday called for the extention of the loan moratorium, stating that the move was needed to provide relief to the tourism industry, which has been decimated by the pandemic and subsequent lockdowns.
“While the RBI granted a six-month moratorium till August 2020, in view of the current situation, the moratorium needs to be extended for at least another six months on all working capital, principal, interest payments, loans and overdrafts,” FICCI said.
FICCI pitched for a new Tourism Policy and infrastructure status to hospitality sector. Jyotsna Suri, Chairperson, FICCI Tourism Committee & CMD, The Lalit Suri Hospitality Group, said, “A waiver for twelve months of all statutory dues is urgently required with respect to license fees, property tax and excise fees.
Bars in hotels should be allowed to open and liquor should also be allowed to be served in restaurants as well.” Separately, the Federation of Associations in Indian Tourism & Hospitality (FAITH) said it has raised a request to the Expert Committee set up by the RBI and asked for a 24 month extension for the sector. FAITH wrote that all segments of Indian tourism are down and will underperform. The international inbound tourism segment had contributed almost Rs 1.95 lakh crore to the sector.