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Hospitality body FHRAI pleads PM Narendra Modi, others for fiscal measures to avoid ‘complete crumble’

According to FHRAI, the hotel industry’s total revenue in FY20 was Rs 1.82 lakh crore. (IE Image)

Hotels and restaurants body Federation of Hotel & Restaurant Associations of India (FHRAI) in a representation to Prime Minister Narendra Modi has pleaded for special fiscal measures to rescue the hospitality industry from severe Covid impact. In the representation, which was also submitted to Finance Minister Nirmala Sitharaman, MSME Minister Nitin Gadkari, and Tourism Minister Prahlad Singh Patel, the federation requested for a three-year moratorium extension on all loans, complete waiver on the interest of loans from March 2020 till the time businesses are normalized, and a stimulus package for the industry’s working capital requirements.

Hospitality has been among the sectors including aviation, realty, retail, etc., that have taken severe Covid beating. As per industry estimates, a majority of the hospitality sector, which comprises micro and small-sized hotels and restaurants,…

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