Welcoming Union Cabinet’s decision to approve an additional ECLGS worth Rs.50,000 Cr exclusively for hospitality, travel and tourism sectors, Mr Gurbaxish Singh Kohli, VP – FHRAI said, “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. He also highlighted that while travel has picked up and tourism is seeing revival, several hospitality establishments are still struggling and cannot sustain operations without sufficient liquidity. “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”, he added.
