Impetus to Tourism Sector: Union Minister Hands Over Cheques, Sanction Letters Under Loan Gurantee Scheme to Tourism Sector Services

Union Minister for Tourism, Culture and DoNER, Shri G.Kishan Reddy handed over cheques, sanction letters to the stakeholders who have been granted the loansunder the Loan Guarantee Scheme for COVID Affected Tourism Sector Services (LGSCATSS)at a programme organised by South Region of Ministry of Tourism at Hyderabad on Sunday.

Speaking at the event, the  minister said that infrastructure is being developed in the temple town of Bhadrachalam and it  would be the last station of the ‘Ramayana Circuit’ He also shared that a draft policy on tourism is being worked upon.

The Minister said that Tourism Sector was one of the most adversely affected service sectorsby the Covid -19 pandemic, impacting livelihoods of stakeholders related to Tourism Industry. “In order to mitigate their hardships and to help the stakeholders revive their businesses and livelihoods,Prime Minister Shri Narendra Modi wantedto extend financial support in form of credit under the Credit Guarantee Scheme at concessional rates”, he shared.The main beneficiaries would be the Tour Operators, Travel Agents, Tourist Transport Operators and the Regional level Tourist guides recognized by the Ministry of Tourism in addition to the local guides approved by the State governments.

Nearly to about 32  LGSCATSS applicants identified by the South Region office of the  Ministry of Tourism received cheques and sanction letters under the loan guarantee scheme in this event today in the city.

Under this scheme, loanup to Rs.10 lakh is being extended to each applicantapproved by the Ministry of Tourism and upto Rs. 1lakh is being extended to each Regional Tourist Guiderecognized by the Ministry of Tourism and Tourist Guides recognized by the State Govt. and Union Territories.

Senior Officials of Ministry of Tourism, Ministry of Finance, Tourism Departments of the South India States and Stakeholders of different segments of Tourism Industry participated in this event.