Kerala likely to open up tourism sector for domestic visitors from September; rolls out loan scheme for entrepreneurs

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Under the scheme, business owners can avail a loan up to Rs 25 lakh while the small ventures can avail up to Rs 3 lakh

Kerala is expected to open up its tourism sector for domestic visitors from September and the state government announced over Rs 400-crore loan scheme for the affected entrepreneurs and employees in the sector.

State Tourism minister Kadakampally Surendran said the state would throw open the tourism sector for domestic tourists from next month. But it would be with restrictions in the wake of rising COVID-19 cases in the state for the past few weeks, he said

In a bid to revive the tourism sector, which has been devastated due to the pandemic outbreak early this year, the state government has announced Chief Minister’s special tourism loan scheme for the tourism sector players.

Surendran announced Rs 455-crore loan scheme to support the tourism sector affected by the coronavirus outbreak and subsequent lockdowns in the country and abroad.

The CM’s loan scheme will benefit both entrepreneurs and employees in the sector, which had shut its operations in March, the peak business season for the sector in the state.

As per the scheme, business owners in the sector can avail a loan up to Rs 25 lakh while the small ventures can avail up to Rs 3 lakh.

The tourism department will offer 50 percent subsidy for the first year of the loan term. The workers will get Rs 20,000 to Rs 30,000 as a soft loan from Kerala Bank, the minister said.

There will not be repayment for the first six months, said the minister. The minister also said that a Rs 100 crore project with Kerala Bank for the sector was in the preparatory stage.

Image credit: Financial Express

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