A recently announced economic relief package of $265 billion turned out to be a disappointment for the tourism industry. No benefits were announced for the tourism businesses struggling during this period of lockdown restrictions. Indian stock market has also shown the slump due to the disappointing details of the economic package.
Many experts have said that the package is just a collection of loans. The struggling businesses who may take the loan will have a hard time paying it back because of the crisis. This is a worrying sign for the Indian economy as it needs an effective recovery plan.
Businesses involved in aviation, travel, hospitality, restaurants, and other tourism activities were expecting something positive from this package. They even made several requests to the government for the much-needed help. As of now, all businesses in the tourism sector are disappointed. Despite being the most hard-hit industry, there is no further attention being given to Indian tourism.
Empty restaurants, hotel rooms, and depressed taxi operators can be seen in places like Himachal Pradesh and Goa. Many tourism associations have put in another request to the government asking for attention. So far, the Ministry of Tourism of India has not received any stimulus package from the Central government.
Some sources have reported that another phase of the economic relief package will be announced especially for the Tourism and Aviation Industry. Following is the new report by CNN News 18 with the details.