NEW DELHI: The Union tourism ministry has proposed to accord infrastructure status to hotel projects costing in excess of Rs 50 crore.
“We have already circulated a Cabinet note to bring down the threshold level (for hotels) to about Rs 50 crore. We are hopeful of getting it through Cabinet. Once that is done, I think smaller players can also come and invest in the hotel industry here which is really needed in this country,” said Tourism Secretary Rashmi Verma.
Speaking to reporters on the sidelines of the third edition of FICCI’s Tourism Investors Meet on Wednesday, she said that it was a “great opportunity” for small investors and the ministry was keen on more homestays and bread and breakfasts across the country.
This proposal, if approved, would lower the threshold limit from the current Rs 200 crore for hotel projects to qualify for priority lending. (AGENCIES)
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