T3 site is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Podcast Streaming Now

spot_img
HomeNewsHotels and ResortsFHRAI Requests FM For Infrastructure Status To The Hospitality Industry

FHRAI Requests FM For Infrastructure Status To The Hospitality Industry

The delegates of Federation of Hotel & Restaurant Associations of India (FHRAI) attended a pre-budget meeting chaired by the Finance Minister Nirmala Sitharaman with the Trade and Service Sector representatives. FHRAI put forth to Sitharaman specific requests with special emphasis on granting infrastructure status to the hospitality industry.

Among other critical points, the Association has requested the FM for the continuation of the Export Promotion Capital Goods Scheme (EPCGS) for another 10 years and extension on the repayment period under the Emergency Credit Line Guarantee Scheme (ECLGS) of 10 years or based on the loan repayment period of the principal loan.

Currently, hotels built with an investment of Rs.200 crore or more have been accorded infrastructure status under the RBI Infrastructure lending norm criteria. The Association has requested that this threshold be brought down to Rs.10. crore to give a fillip to budget segment hotels. It has also requested for hospitality to be classified as an industry that’s applicable across the country and create a corpus that compensates States for any notional loss.

RELATED ARTICLES

SOCIAL FOLLOWERS

FansLike
FollowersFollow

GALLERY

slide2
slide3
slide4
slide5
slide6
slide7
slide8
slide9
slide10
slide11
slide12
slide13
slide14
slide15
slide16
slide17
slide18
slide19
slide20
slide21
slide22
slide23
slide24
slide25
slide26
slide27

Upcoming Events

NEWSLETTER

    Appointment