Hotel projects

New Delhi: The new inclusion of hotels and convection centers in the master list of infrastructure will provide huge employment in the country, Chiranjeevi said.

In a recent development, the Finance Ministry has decided to incorporate hotel project costing more than Rs 200 crore and convection center valuing over Rs 300 cr to be an infrastructure project.   The decision was welcomed by the Tourism Minister.

The facility will be effective from the date of notification and available for qualified prospects for three years. The eligible cost excludes cost of land and lease charges but it includes the interest during the construction.

The Tourism Minister had met his south paw P Chidambaram earlier in this connection. The Tourism Ministry had been following the Finance Ministry for this kind of benefit for the developing  hospitality industry in the country.

The inclusion of the hotels will give a boost to the industries and many foreign brands will be interested doing business in the country. Tourism and hospitality business has seen huge growth in recent times.

The inclusion of convention centers will also help to set-up niche products in tourism which have year-round business and therefore, would overcome the present bane of seasonality of Indian tourism.