FHRAI recommends 3-year moratorium extension on all loans to rescue industry

The Federation of Hotel & Restaurant Associations of India (FHRAI) has submitted a representation to PM Narendra Modi, FM Nirmala Sitharaman, Minister of MSME Nitin Gadkari and Tourism Minister Prahlad Singh Patel requesting for urgent support to save the sector from imminent collapse. It has stated that financial reliefs extended during the first pandemic wave were inadequate and improperly implemented. The FHRAI has pleaded for immediate fiscal measures including a 3-year moratorium extension on all loans and a complete waiver of interest on loans.