Tourism Minister Prahlad Patel advised the Parliament that no formal examine has been instituted but.
New Delhi:
The Ministry of Tourism knowledgeable the Parliament at present whereas no formal examine has been performed to evaluate the influence of the COVID-19 pandemic on the tourism sector, discussions with stakeholders have indicated that the sector has suffered a large loss in income.
In a written reply in Lok Sabha, Tourism Minister Prahlad Patel mentioned as a result of the truth that the sector is basically unorganised, the influence may be assessed solely sooner or later.
“No formal examine has been instituted for evaluation of the influence on the tourism sector and job losses. Nevertheless, a number of rounds of discussions and brainstorming classes with trade stakeholders point out huge lack of income, international change and jobs. In view of the extremely unorganised nature of the sector, the influence in numerical phrases can solely be ascertained sooner or later,” he mentioned.
He mentioned that varied businesses and the federal government have outlined a number of stimulus packages for the sector, which incorporates prolonged moratorium from the Reserve Financial institution of India (RBI) on time period loans until August 31 this yr.
Mr Patel mentioned the federal government has additional introduced an “Atmanirbhar Bharat package deal” of Rs three lakh crore, which is a collateral free computerized mortgage for micro, small and medium enterprises (MSMEs).
The mortgage may have a four-year tenure and may have a 12-month moratorium.
Underneath the Atmanirbhar Bharat package deal, PF contribution of each employer and worker has been diminished to 10 per cent every from the prevailing 12 per cent every for all institutions coated by EPFO for the subsequent three months i.e. as much as September this yr, he mentioned.
It has additionally deferred TCS as much as October this yr, Mr Patel added.
The central authorities has additionally given reduction from varied regulatory compliances beneath the Revenue Tax Act, Corporations Act and the GST Act for various interval within the wake of the COVID-19 disaster to make sure enterprise continuity and survival, he mentioned.
He additionally mentioned the tourism ministry has not acquired any proposal from any state for elevated allocation of funds for improvement and promotion of tourism in view of the COVID-19 pandemic.
(Apart from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)
