The Union Budget 2022-23 proposes to extend the Emergency Credit Line Guarantee Scheme (ECLGS) for the hotel and hospitality industry till March 2023.
“The hospitality and related services, especially those by micro and small enterprises, are yet to regain their pre-pandemic level of business. 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.
She said that contracts for 8 ropeway projects for a length of 60 km will be awarded in 2022-23 under the Parvatmala Scheme. “As a preferred ecologically sustainable alternative to conventional roads in difficult hilly areas, National Ropeways Development Programme will be taken up on PPP mode. The aim is to improve connectivity and convenience for commuters, besides promoting tourism. This may also cover congested urban areas, where conventional mass transit system is not feasible. Contracts for 8 ropeway projects for a length of 60 km will be awarded in 2022-23,” the Finance Minister said.
