UNION BUDGET PROVIDES GREAT RELIEF TO THE TRAVEL AND HOSPITALITY SECTOR

THE INDIAN HOSPITALITY and travel sector felt a huge sense of relief a er the Union Budget was announced by Finance Minister Nirmala Sitharaman.

e minister announced an increase in the Emergency Credit Line Guarantee Scheme overall, with a special focus on hospitality and related services, especially micro and small enterprises. “e hospitality and MSME segments are yet to reach the pre-pandemic level of business,” Sitharaman noted. “Hence, ECLGS will be extended upto March 2023. Its guarantee cover will be expanded by `50,000 crore to a total cover of `5,00,000 crore,” she added. e hospitality industry will get a special focus, she said. is is a huge relief for the hospitality and travel industry as it is still recovering from the crippling e ects of the pandemic. indiabudget.gov.in