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August 2020
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News Headlines
NIA arrests six more people and conducts searches at 6 places in Kerala gold smuggling case        Union Minister observes fast as BJP seeks to step up pressure on Ker govt in gold smuggling case        Kerala crosses 25,000 COVID-19 cases as 1,169 test positive        Heavy rains forecast in Kerala this week; Low pressure likely in Bay of Bengal        Shah tests +ve for COVID-19, admitted to Medanta hospital in Gurugram        International passengers with negative COVID-19 test report can skip institutional quarantine: Govt        High time Mehbooba Mufti is released, says Rahul Gandhi        Death toll in Punjab spurious liquor tragedy rises to 104        Trump Says Federal Government Should Seek Death Penalty For Boston Bomber        Khamenei''s top aide praises Turkey''s Hagia Sophia move        IPL GC Meet: Final on Nov 10, Chinese sponsors intact, COVID replacements allowed        2nd ODI: Bairstow, Rashid shine in England''s 4-wicket win over Ireland        Kerala''s COVID-19 tally inching towards 25,000 mark, 1129 ccases, death toll climbs to 82        Kerala police SI dies of COVID-19; first from the force to succumb to the virus        If high command forgives rebels, I will welcome them back: Gehlot        Former SP leader and Rajya Sabha MP Amar Singh dies at 64        Wild fire: 200 homes evacuated in Southern California        Emirati nuclear plant successfully starts up first reactor        Ready to push for continued advancement of China-Nepal ties: Xi        Some 17,000 people hit streets of Berlin to protest COVID-19 measures        
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Business News
Coronavirus impact may render 3.8 cr people jobless in tourism, hospitality sector
 
New Delhi: The coronavirus impact could render 3.8 crore people jobless, which is around 70 per cent of the total workforce in the tourism and hospitality sector, according to a grouping.

The Federation of Associations in Indian Tourism & Hospitality (FAITH) also said there should be a support fund for twelve months to support basic salaries with "direct transfer" to the affected tourism employees.

"As a result of this pandemic, Indian tourism industry is looking at pan India bankruptcies, closure of businesses and mass unemployment," FAITH said in a letter to Prime Minister Narendra Modi.

It is believed that around 70 per cent out of a total 5.5 crore workforce could get unemployed, which is around 3.8 crore people. This effect of job losses and layoffs has already begun throughout the country, it added.

The figure is for direct as well as indirect jobs.

"A large percentage of total tourism business activity of India, which is estimated at USD 28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year. Thus, in excess of Rs 5 lakh crore of direct tourism industry and almost double that of total economic activity is at risk," the letter said.

With declining revenues, almost all tourism businesses are running out of working capital. However, with the responsibility of staff and payment of their salaries, EMIs to service, advance tax, PF, ESIC, GST, excise and other state levies, bank guarantees, security deposits, this industry needs your support now more than ever, it added.

"We request you for a twelve-month moratorium on our EMIs of principal and interest payments on loans and working capital from Financial Institutions (both banking & non-banking)," the letter said.

Additionally, FAITH requested the PM for doubling working capital limits on interest free and collateral free terms. This will prevent all tourism businesses from going bankrupt, it added.

"Sir, additionally to prevent insolvency, we request you for a deferment for 12 months of all statutory dues whether GST, Advance Tax payments, PF, ESIC, customs duties at the central government level or at any state government level the excise fees, levies, taxes, power & water charges, bank guarantees & security deposits and deferment of all renewals, across the tourism, travel, hospitality & aviation industry," the letter said.

FAITH also requested the PM to set up a support fund for twelve months on the lines of MNREGA to support basic salaries with 'direct transfer' to affected tourism employees, it added.

"TCS (tax collected at source) on travel has been proposed in Finance Bill 2020 to be levied from April 1, 2020 and we request that it should not be introduced as it will displace business from India to overseas, which will lead to shutting down businesses of most Indian tourism companies," the letter said.

It also requested a complete GST Tax Holiday for the tourism, travel and hospitality industry for a period of 12 months.

The letter requested the PM to, "set up...a national tourism task force of all relevant ministries of the central government along with ministry of tourism and chief secretaries of State governments and industry stakeholders to meet regularly to fast-track all tourism investment approvals.


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Rupee slips 9 paise to 75.02 against USD
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KERALA NEWS
Kerala crosses 25,000 COVID-19 cases as 1,169 test positive
 Thiruvananthapuram: Kerala on Sunday crossed the 25,000 mark in COVID-19 cases as 1,169 more people  
Heavy rains forecast in Kerala this week; Low pressure likely in Bay of Bengal
Kerala police SI dies of COVID-19; first from the force to succumb to the virus
Kerala reports 1,310 COVID-19 cases; 3 deaths takes toll to 73
INTERNATIONAL NEWS
Trump Says Federal Government Should Seek Death Penalty For Boston Bomber
 WASHINGTON: US President Donald Trump says the federal government must seek the death penalty for Bo
Khamenei''s top aide praises Turkey''s Hagia Sophia move
Wild fire: 200 homes evacuated in Southern California
Emirati nuclear plant successfully starts up first reactor
NATIONAL NEWS
Union Minister observes fast as BJP seeks to step up pressure on Ker govt in gold smuggling case
 New Delhi: Union Minister V Muraleedharan on Sunday observed a day-long fast at his residence here d
Shah tests +ve for COVID-19, admitted to Medanta hospital in Gurugram
International passengers with negative COVID-19 test report can skip institutional quarantine: Govt
High time Mehbooba Mufti is released, says Rahul Gandhi
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