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Published on : Thursday, December 31, 2020
The Andhra Pradesh state government has approved the new Tourism Policy for 2020-25.
A Government Order was released in this regard which said that the new policy comes into effect right away and will remain in force up to March 31 2025.
To help the tourism sector get over the financial crisis brought in by the COVID-19 pandemic, the Andhra government has approved a ‘Tourism Restart’ package comprising a Rs. 198.50 crore loan for hotels/MICE and function halls, restaurants and other service providers by extending interest subsidy at 50% of the interest on the loan of 12 months, conditional on a maximum of 4.50% of the loan amount for one year.
The department estimated that an amount of Rs. 198.50 crore would be required towards the working capital for supporting the tourism sector.
The loan assistance of Rs. 198.50 crore will be shared by 3,910 establishments, including 900 hotels, 350 MICE and function halls, 160 service providers and 2,500 restaurants (standalone).
Tags: andhra pradesh, new tourism policy