Business & Investment

Hotel: Battered Hotel Sector Aiming For These Measures In Budget To Recover From Covid’s Blow

New Delhi: Hospitality is one of Covid’s most hit sectors, with occasional new curbs.With this budget, investors who own a stake in a hotel will be able to extend the loan moratorium at low interest rates, rationalize taxes, and UDAAN Above all, the scheme.

Besides, as in the real estate sector, Hospitality sector I’ve been asking for “infrastructure” status for too long. Such grants are welcome.

“The hotel sector may be given the status of infrastructure, which has been a long-standing demand from the industry,” said Nirmal Bang Institutional Equities.

According to ICICIdirect, depending on the status of the infrastructure Hotel Take advantage of the project’s low taxes, utilities and a simplified approval process to help attract more investment.

“We also allow a one-year moratorium extension of loans available under the Emergency Loan Guarantee (“ECLGS) Will alleviate the current liquidity problem, “he said, proposing EIH, TajGVK and Lemontree Hotel as beneficiaries.

Nomura India expects MSME’s ECLGS scheme to be extended by up to a year, especially in the hospitality, travel, tourism, leisure, sports and healthcare sectors.

The scheme is to expire in March 2022.

Nirmal Bang said it can provide companies with incentives for conferences and conferences held in the country. According to securities firms, conferences and conferences held abroad should not be considered project costs.

“This will prevent overseas conferences, incentives, conferences and exhibition (MICE) events, helping to increase sales in the domestic hospitality business while saving forex. GST inputs, according to securities companies. Encourage them to spend their annual budget in India instead of using credits to choose destinations in Southeast Asia.

Other important measures that analysts are paying attention to include incentives for domestic travel with tax cuts or tax deductions of at least 2-3 years. This will allow you to support domestic travel until international travel resumes.

Analysts could also provide central government officials with LTC cash vouchers instead of LTC fares to support domestic demand, providing a timeline to offset past business losses in a Covid-led turmoil. He added that he welcomed the extension from the year to 12 years. ..

Hotel: Battered Hotel Sector Aiming For These Measures In Budget To Recover From Covid’s Blow

https://economictimes.indiatimes.com/markets/stocks/news/hard-hit-hotel-sector-eyeing-these-measures-in-budget-to-recover-from-covid-blow/articleshow/89178749.cms Hotel: Battered Hotel Sector Aiming For These Measures In Budget To Recover From Covid’s Blow

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