Finance Minister, Nirmala Sitharaman has announced the two phases of the 20 lakh crore package. The third part of the mega economic relief package will be out today.
According to sources, the third part will focus on Hospitality sector. This sector is in bad condition since the nationwide lockdown from March 25.
The entire sector urges the government for fiscal support. They are not working due to the orders.
Cash flow has severely affected up with no revenue inflows. Also, hotel owners have requested the government to announce some form of monetary support.
Another demand that has been specified by the hospitality industry is related to a no GST payments for six months.
The government has already announced some support. These are for Micro, Small and Medium Enterprises (MSMEs), migrant labourers, farmers and middle class among others.
Also, the government said that it will keep introducing more relief measures. It will be based on industry inputs, as part of the Rs 20 lakh crore package announced.
The government is dedicated to help the businesses, said the minister. It will help India become “self-reliant” in the long run.
Currently, the cases in India are above 80,000.
For the First phase, click here.