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IATO deeply disappointed over Budget 2022

Posted : 02 February 2022 05:19:00 | By TWO Bureau | GNN Bureau

IATO deeply disappointed over Budget 2022

Indian Association of Tour Operators (IATO) has expressed despair over the finance minister completely ignoring in her Budget 2022 speech the plight of the tourism sector, when it has borne the brunt of the COVID pandemic, and not announcing any sops for it.


 

Extension of loan under Emergency Credit Line Guarantee Scheme (ECLGS) has been announced, but it is of no use for inbound tour operators as they are not able to pay EMIs of the loans they have already taken. Besides, banks are not providing fresh loans to the operators until they clear their previous dues. Also, loans are not being given to tour operators who have taken loans under ECLGS 1and 3.


 

According to Rajiv Mehra, President of IATO: “We had requested a one-time grant based on our 2019-20 turnover, reduction in GST, restoration and enhancement of SEIS benefit, reduction of taxes on international airfares and overall reduction of taxes on the hospitality sector. Most disappointingly, none of these found mention in the Budget.”


 

“There has been huge employment loss besides financial loss in our sector. Just a few years ago, we were earning huge foreign exchange for the government and in this hour of despair we expected some handholding by the government,” he added. 




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Tags : #iato, #budget2022, #eclgs #desperatetravelindustry, #gst, #seis,


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