budget reactions – आवारा मुसाफिर

Budget may have too little to bring major relief for tourism sector

February 1, 2022863 Views

Battered tourism sector gets Rs 2400 crore; more could have been done, says industry From the budgetary allocation for major tourism infrastructure schemes, Rs 1181.30 crore is earmarked for the Swadesh Darshan Scheme, and Rs 235 crore for the PRASHAD Scheme. The Ministry of Tourism has been allocated Rs 2,400 crore in the Union Budget which is 18.42 per cent higher than the allocation for the financial year 2021-22, bringing some relief to a sector ravaged by the Covid pandemic. India’s hotels, travel operators and players in the hospitality sector get a special mention in Finance Minister Nirmala Sithraram’s budget speech as part of the emergency credit scheme, which has been expanded by ₹50,000 crore to total cover of ₹5 lakh crore. She mentioned that the additional loa...

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Left out in cold by budget, travel industry looks for way ahead

UPENDRA SWAMI

February 4, 2021784 Views

It was definitely not what the Indian travel and tourism industry has been expecting. Budget 2021-22 has come as a rude shock for an industry, which has faced the most severe brunt of the COVID-19 pandemic in the last one year. Global tourism suffered its worst year on record in 2020, with international arrivals dropping by 74% according to the latest data from the World Tourism Organization (UNWTO). Destinations worldwide welcomed 1 billion fewer international arrivals in 2020 than in the previous year, due to an unprecedented fall in demand and widespread travel restrictions. This collapse in international travel represented an estimated loss of USD 1.3 trillion in export revenues - more than 11 times the loss recorded during the 2009 global economic crisis. The crisis has put betwee...