The State government has approved the new Tourism Policy, 2020-25. A Government Order released in this regard said the new policy comes into effect immediately and will remain in force up to March 31 in 2025. To help the tourism sector tide over the financial crisis inflicted by the COVID-19 pandemic, the government has approved a ‘Tourism Restart’ package comprising a ₹198.50 crore loan for hotels/MICE and function halls, restaurants and other service providers by extending interest subsidy at 50% of the interest on the loan of 12 months, subject to a maximum of 4.50% of the loan amount for one year. As per the data collated by various associations, registration on the trade and tourism portal and the subsequent rationalisation of the numbers, the department estimated that an amount of ₹198.50 crore would be required towards the working capital with a view to handhold the tourism sector. The loan assistance of ₹198.50 crore will be shared by 3,910 establishments, including 900 hotels, 350 MICE and function halls, 160 service providers and 2,500 restaurants (standalone).

Source: The Hindu December 29, 2020 19:18 UTC