While the travel, tourism and hospitality trade associations have expressed their disappointment in the Union Budget presented by the Finance Minister as it lacked any concrete proposal to stimulate and boost the hard-hit tourism sector in the country, support for the budget has come from the financial and promotion agencies in the country.
Against this backdrop, Sujjain Talwar, Co-Founding Partner, Economic Laws Practice (ELP) has been quoted in ETHospitalityworld in their article titled ‘Tourism funding and promotion agencies laud Budget proposals for the sector’. Sujjain welcomes the proposal for an extended and expanded ECLGS support for the hospitality sector and is of the opinion that extension of the ECLGS scheme until March 2023 is indicative of the government finally paying heed to the plight of the hospitality sector. An enhanced guarantee cover of INR 5 lakh crore is indicative of support to the sector.
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