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New Delhi:
The Ministry of Tourism knowledgeable the Parliament at present whereas no formal research 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 on account of the truth that the sector is basically unorganised, the influence will be assessed solely in the end.
“No formal study has been instituted for assessment of the impact on the tourism sector and job losses. However, several rounds of discussions and brainstorming sessions with industry stakeholders indicate massive loss of revenue, foreign exchange and jobs. In view of the highly unorganised nature of the sector, the impact in numerical terms can only be ascertained in due course,” he mentioned.
He mentioned that numerous companies and the federal government have outlined a number of stimulus packages for the sector, which incorporates prolonged moratorium from the Reserve Bank 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” of Rs three lakh crore, which is a collateral free computerized mortgage for micro, small and medium enterprises (MSMEs).
The mortgage could have a four-year tenure and could have a 12-month moratorium.
Under the Atmanirbhar Bharat bundle, PF contribution of each employer and worker has been lowered to 10 per cent every from the present 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 aid from numerous regulatory compliances beneath the Income Tax Act, Companies 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 obtained any proposal from any state for elevated allocation of funds for improvement and promotion of tourism in view of the COVID-19 pandemic.
(Except for the headline, this story has not been edited by NDTV workers and is revealed from a syndicated feed.)
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