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FHRAI'S STATEMENT ON RS 50,000-CRORE CREDIT SUPPORT TO HOSPITALITY SECTOR UNDER ECLGS

17 th Aug 2022

“The Union Cabinet’s decision to approve an additional ECLGS worth Rs.50,000 Cr specifically for hospitality, travel and tourism sectors is a welcome one. 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 business running. Travel has picked up and tourism destinations are seeing a revival. Several hospitality establishments cannot sustain operations without sufficient liquidity, but the extended ECLGS could help businesses buy some more time to keep the wheels in motion. We thank the Government for considering our appeal for earmarking an ECLGS for the sector,” says Mr Gurbaxish Singh Kohli, Vice President, Federation of Hotel & Restaurant Associations of India (FHRAI).

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