The Union budget presented by Finance Minister Nirmala Sitharaman completely ignored the plight of the tourism sector, the Indian Association of Tour Operators has said.
“IATO expresses a deep sense of desperation over FM, completely ignoring in its budget speech the fate of the tourism sector and announcing no concessions for the sector when it has borne the brunt of the brunt of the pandemic,” the association said today.
However, the tour operators body said a loan extension under the ECLGS is of no use to incoming tour operators as they are unable to pay the loan EMIs they have. already contracted.
“Additionally, banks do not issue new loans to tour operators until they have repaid their previous loans. Also, loans are not issued to tour operators who have taken out loans under the ECLGS 1 and 3,” the association said.
“There have been huge job losses on top of financial losses in our sector. Just a few years ago we were earning huge amounts of currency for the government and in this hour of desperation we were expecting a taken over by the government,” Mehra added.
The association hopes that the government will consider a substantial alleviation of additional demands.
(Edited by : Priyanka Deshpande)
First post: STI