Tag Archives: Finance Minister Nirmala Sitharaman

Hotel Association of India (HAI) has submitted a recommendation to Finance Minister Nirmala Sitharaman, highlighting the steep rise in insurance premiums for hotel properties in the last few years. HAI has urged the government to restore the insurance premium rates for hotel properties to the level of FY 2018-19. MP Bezbaruah, Secretary-General, HAI said, “The current very high insurance premium rates as compared to pre-FY 2018-19 is a major disincentive.”

FHRAI has submitted a representation to Finance Minister Nirmala Sitharaman requesting reintroduction of the scheme granting ex-gratia payment of the difference between compound interest and simple interest for six months to borrowers from the hospitality sector in view of the second wave of the COVID-19 pandemic. The scheme was formerly announced in October last year.

Arvind Singh, Secretary, Ministry of Tourism, has welcomed the relief measures and free-visa announcement by Finance Minister Nirmala Sitharaman. “We have been in discussion with the Finance Ministry on relief measures for the tourism and hospitality sectors. We welcome the announcement, as it will help in the revival of the sector and promote inbound travel to India. Tourism is one of the sectors that has been badly hit by the pandemic, and hence these measures are welcome.” Since the relief measures are for recognised tour operators, he urged more stakeholders in the industry to get registered.

Finance Minister Nirmala Sitharaman has announced that once international travel resumes, first 5 lakh tourists who come to India will get visa for free. The scheme is applicable till March 31, 2022 or till 5,00,000 visas are issued whichever is earlier, she said. The announcement was made as part of the 8 relief measures in the wake of coronavirus pandemic declared by Sitharaman.