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The hospitality industry welcomed the decision to approve an additional ₹50,000 crore specifically for hospitality and related sectors under the Emergency Credit Line Guarantee Scheme (ECLGS).
Industry bodies said the additional line of credit was much needed as the sector is still grappling with massive debts.
“The additional line of credit was much needed by the hospitality sector which is still grappling with massive debts and is simultaneously trying to keep the business running,” said Gurbaxish Singh Kohli, vice president, Federation of Hotel & Restaurant Associations of India. Kush Kapoor, CEO of Roseate Hotels, said the increase in allocation “has come as a breather for hotel players grappling with the burden of loan repayment and uncertainties in revenue generation”. Nishant Pitti, co-founder of EaseMyTrip, said it is ‘good news’ for MSMEs in travel, tourism and hospitality industry.
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