Covid-19 Effect: No Formal Study Yet, but Indications of Major Revenue Loss, Says Tourism Ministry
News 18The Ministry of Tourism informed Parliament on Monday while no formal study has been conducted to assess the impact of the COVID-19 pandemic on the tourism sector, discussions with stakeholders have indicated that the sector has suffered a massive loss in revenue. In a written reply in Lok Sabha, Tourism Minister Prahlad Patel said due to the fact that the sector is largely unorganised, the impact can be assessed only in due course. However, several rounds of discussions and brainstorming sessions with industry stakeholders indicate massive loss of revenue, foreign exchange and jobs.” “In view of the highly unorganised nature of the sector, the impact in numerical terms can only be ascertained in due course,” he said. He further said that various agencies and the government have outlined several stimulus packages for the sector, which includes extended moratorium from the Reserve Bank of India on term loans till August 31 this year.