Announcements By Finance Minister: Economic Package for Travel Sector and Tourism

NIRMALA SITHARAMAN
  • Reviving Tourism:- Under new Loan Guarantee Scheme for COVID Affected Sectors, working capital/personal loans will be provided to people in the tourism sector to discharge liabilities and restart businesses impacted due to Covid-19. The scheme will cover:
  • 10,700 regional level tourist guides recognized by the Ministry of Tourism and tourist guides recognized by the State Governments.
  • Travel and Tourism Stakeholders (TTS) recognized by the Ministry of Tourism.
  • Loan will be provided with 100% guarantee, up to the following limits: Rs 10 Lakh for TTS per agency and Rs 1 Lakh for tourists guides licensed at Regional or State Level.
  • No processing charges, waiver of foreclosure/prepayment charges. No additional collateral requirement.
  • Scheme to be administered by the Ministry of Tourism through NCGTC.
  • Free Tourist Visa to 5 Lakh Tourists:- 
  • Once Visa issuance is restarted, the first 5 lakh Tourists Visa will be issued free of charge.
  • Benefits will be available only once per tourist.
  • The scheme will be applicable till 31st March 2022, or till 5,00,000 visas are issued, whichever is earlier.
  • Total Financial Implication is of Rs 100 Crore.

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