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Tourism RESTART Package: A gift from the Hon’ble CM to the Tourism Industry

Tourism-RESTART-Package-A-gift-from-the-Hon’ble-CM-to-the-Tourism-Industry

Due to COVID-19 pandemic and the subsequent halt on travel and tourism-related activities due to lockdown and apprehensions around travel, the tourism industry stake holders are under severe stress. The tourism activities in the state have come to a grinding halt causing severe financial strain to all the stakeholders (hoteliers, restaurants, tour operators, travel agents, adventure sports operators, water sports operators, etc.).

As per the data collated from a survey done, estimates of hotel associations, registrations on trade portal and subsequent rationalization of the numbers, there are about 900 Hotels, 350 MICE & Function Halls, 160 service providers, 2500 standalone restaurants in the state. Due to the cessation of the business activity, these establishments are not even able to pay salaries to their workers. As per some estimates, more than 30% of workers have lost their jobs.

Tourism-RESTART-Package-A-gift-from-the-Hon’ble-CM-to-the-Tourism-Industry

During the consultations with tourism industry stakeholders, they submitted their difficulties and losses suffered by them and requested for certain incentives on electrical charges, discounts in interest on loans, SGST reimbursement, Property Tax, extension of licenses, Support for working capital, support for salaries of employees, Provident Fund etc.

The Hon’ble CM has approved the RESTART package with interest subvention to assist tourism establishments to restart their operations and support their wage liabilities and fixed expenses. This step would boost the Tourism sector and provide much-needed support. The size of the RESTART package will be Rs. 198.50 Crores and will benefit about 3910 tourism establishments of the state. The Dept. of Tourism shall facilitate all tourism establishments in the state in obtaining these loans. The corresponding procedure and terms shall be notified shortly. The Andhra Pradesh Cabinet approved the proposal today in a historic decision.

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