Himachal Pradesh government decides to step in and support the hospitality industry of the state. The tourism department has announced a scheme for the Interest Subvention on the working Capital Loan.
Named A Scheme for Interest Subvention on Working Capital Loan for Hospitality Industry, this step aims to relive the related businesses. The idea is to provide immediate loans for working capital. The highlights of this scheme include the following.
- Period for loan is 4 years, including interest subvention (2 years) and moratorium (1 year).
- ROI is 11% and for the first 2 years , the government will bear 50% of the interest.
- Registered Tourism Units and Small Registered Tourism Units are eligible.
- Scheme is available till 31-3-2021.
- Detailed criteria will be available with the respective District Tourism Development Officer.
Himachal Pradesh is one of the states of the countries which rely heavily on tourism and allied activities. And the tourism sector is one of the worst effected by the Covid-19 global pandemic.
As the country tries to get back to normalcy under the Unlock 1, Unlock 2 and the upcoming Unlock 3 stage of phased reopening, this sector is definitely the most vulnerable.
(Feature image source: himachaltourism.net)
