New Delhi, February 01, 2022: The hospitality industry has been severely battered by three consecutive Covid 19 induced waves over last two years. The extension of ECLGS moratorium extention by one year for the hospitality sector will come as a breather for the hotel players grappling with burden of loan repayment and uncertainties in revenue generation.
The move will bolster the much-needed liquidity to the sector which employs a large number of people.
It is appreciated that inspite the revenue constraints faced by the government and its impact on the widening fiscal deficit, the government has taken cognisance of the strain the hospitality sector is going through.This will help the sector tide over the cash crunch and working capital issue
Corporate Comm India (CCI Newswire)
