The Federation of Associations in Indian Tourism & Hospitality (FAITH), on Monday said that it has made suggestions to finance ministry, RBI and tourism ministry for urgently taking up measures targeted at protecting business and jobs in the sector. The association has asked for a waiver or compensation for fixed statutory and compliance liabilities. Despite no revenues, there are statutory liabilities and compliance liabilities at both state and central government level and other regulatory bodies which still need to be met. The association has suggested to set up a corpus with ministry of tourism to meet these monthly liabilities of tourism travel & hospitality companies to discharge them on their behalf. The industry body has requested that an amount equivalent to the pre-pandemic basic salaries be sent each month to such tourism, travel & hospitality employees in a direct benefit transfer against their PAN Card.

Source: Mint May 10, 2021 13:07 UTC