Hotel Credit Support Of Rs 50,000 Crore In Budget 2022-23

For the hotel and hospitality industry, the Union Budget proposes extending the Emergency Credit Line Guarantee Scheme (ECLGS) until March 2023.

"Hospitality and related services, especially by micro and small businesses, have yet to regain their pre-pandemic levels.

Considering these aspects, the ECLGS will be extended up to March 2023 and its guarantee cover will be expanded by Rs 50,000 crore to total cover of Rs 5 lakh crore, with the additional amount being earmarked exclusively for the hospitality and related enterprises,” Finance Minister Nirmala Sitharaman, said in her Budget speech.

Under The Parvatmala Scheme, Eight Ropeway Projects With A Length Of 60 Km Will Be Awarded Contracts In 2022-23. National Ropeways Development Programme Will Be Undertaken On A PPP Basis As In Addition To Promoting Tourism, The Goal Is To Improve Connectivity A\Nd Convenience For Commuters. Ecologically Sustainable Alternative To Conventional Roads In Hilly Areas.

Congested Urban Areas Where Conventional Mass Transit Systems Are Not Feasible May Also Be Covered.

The Finance Minister said that eight ropeway projects covering 60 km would be awarded in 2022-23.

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