Covid-19 impact: Travel, hospitality stare at revenue loss of Rs 5 trillion

With 40 million jobs at risk, the industry has sought a bailout package

Battered and bruised by the Covid-19 pandemic, the country’s travel and hospitality industry is staring at a Rs 5-trillion revenue loss over the next year while 35-40 million jobs, both direct and indirect, are in jeopardy.

The nationwide lockdown has shuttered hotel and travel sectors, clogging their earnings. The distressed industry has sought a bailout package from the finance ministry to sustain its business in the aftermath of the pandemic.

Among the foremost demands of the industry is to extend the tenure of moratorium on loans pegged at three months by the Reserve Bank of India (RBI) to 12 months in view