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Last Updated : Mar 20, 2020 02:34 PM IST | Source: PTI

Coronavirus impact : Goa tourism body predicts loss of Rs 1,000 crore

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

Goa's tourism industry may suffer a loss of over Rs 1,000 crore because of the coronavirus (COVID-19) 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 March 19 to review the stringent curbs imposed by the state government in light of the COVID-19 pandemic.

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

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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.

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First Published on Mar 20, 2020 02:25 pm
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