Coronavirus outbreak: Goa tourism industry may suffer loss of over Rs 1,000 cr; urges govt to provide tax relief

Travel and Tourism Association of Goa held a meeting on Thursday to review the stringent curbs imposed by the state government in light of the COVID-19 pandemic.

Press Trust of India March 20, 2020 14:59:01 IST
Coronavirus  outbreak: Goa tourism industry may suffer loss of over Rs 1,000 cr; urges govt to provide tax relief

Panaji: Goa's tourism industry may suffer a loss of over Rs 1,000 crore because of the coronavirus outbreak, a tourism body said, urging the government to provide tax reliefs to tide over the crisis.

Travel and Tourism Association of Goa (TTAG) held a meeting on Thursday to review the stringent curbs imposed by the state government in light of the COVID-19 pandemic.

Coronavirus  outbreak Goa tourism industry may suffer loss of over Rs 1000 cr urges govt to provide tax relief

Representational image. Reuters.

"The state tourism industry will lose roughly Rs 1,000 crore because of the pandemic. At least 60,000 to 75,000jobs will be lost if remedial measures are not taken," a statement issued by TTAG read.

According to TTAG, the chartered flight season ended abruptly since last week, following the Central government's decision to discontinue visas for foreign travellers.

The TTAG has demanded that financial institutions provide six to nine months' moratorium on all principle (EMI) and interest payments on loans and overdrafts.

"Sanctioned loans should be disbursed and there should be free flow of sanctioned credit to enable firms to deal with their liquidity crisis," the body said.

The industry body also suggested the use of funds from MNREGA to support salaries of employees in tourism and hospitality industries till the time revival happens.

"To enable establishments to liquidate their assets, stamp duty should be reduced and the registration fees should be capped," the TTAG urged.

The tourism stakeholders also suggested at least a 50 percent reduction in GST to tide over the crisis.

Updated Date:

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