Tuesday, Feb 11 2025 | Time 18:39 Hrs(IST)
image
Business Economy


Grant infra status to hotels irrespective of their locations, CII tells Govt

Grant infra status to hotels irrespective of their locations, CII tells Govt

New Delhi, Jan 24 (UNI) Days ahead of the Union Budget, industry body Confederation of Indian Industry (CII) has proposed that granting 'infrastructure status' to the hotel sector should be delinked from geographical or population criteria.

The move would help hotel developers in smaller cities to access loans from banks at better interest rates.

Currently, three-star or higher category classified hotels located outside cities with a population of more than 1 million have been granted infrastructure status.

Suggesting an eight-point agenda for promoting tourism in the forthcoming Budget, CII on Friday said that granting infrastructure status to hotels irrespective of their locations would enable them access to long term funds at lower interest rates and a longer repayment period for the hotel sector which typically has a longer gestation period.

The industry body also called for developing 200 new tourist destinations in a time-bound manner given the huge tourism potential in India.

Other suggestions of the CII include launching Mission Suraksha and Incredible India 3.0 or Atulya Bharat campaign.

The industry chamber also proposed to include tourism in the concurrent list 'to elevate the sector on the national agenda and to enable the Centre and States to effectively legislate and work together on the sector.'

"Currently, tourism is not listed on any of the three lists in the Seventh Schedule of the Indian Constitution which lays down the division of powers between the Centre and States," it said.

The Budget 2025 will be presented by Finance Minister Nirmala Sitharaman in Parliament on February 1, 2025.

UNI NK CS1521

More News

Sensex drops 1018 20

11 Feb 2025 | 4:09 PM

Mumbai, Feb 11 (UNI) The equity market continued to slid for the fifth consecutive session on Tuesday, with BSE Sensex plunged 1018.20 pts to 76,293.60 on weak global cues.

see more..

VST Tillers Tractors reports 29 pc Revenue growth in Q3

11 Feb 2025 | 2:47 PM

Chennai, Feb 11 (UNI) VST Tillers Tractors Limited (VST), India’s leading farm
equipment manufacturer, on Tuesday announced that it has registered a 29 per
cent growth in Q3 Revenue.

see more..

Titagarh Rail Systems Limited announces management rejig

11 Feb 2025 | 2:45 PM

Kolkata, Feb 11 (UNI) India’s leading Railway Systems provider Titagarh announced important management reorganization and strengthening, as well as venturing into new areas of growth.

see more..

Quality Power Electrical Equipments Limited IPO opens on Feb 14

11 Feb 2025 | 1:11 PM

Mumbai Feb 11 (UNI) The initial public offering of energy transmission equipment and power technologies firm Quality Power will open for public subscription on February 14, the company said on Tuesday.

see more..

IEW’25 set to become major event: Hardeep Puri

10 Feb 2025 | 10:06 PM

New Delhi, Feb 10 (UNI) India Energy Week 2025 is set to be the first major global event on the energy calendar that is expected to have a transformative impact on the energy market, said Minister of Petroleum & Natural Gas, Hardeep Singh Puri.

see more..
image