Boosting Hospitality: Mudra Loans to Empower Homestays

The Centre has introduced Mudra loans for homestays to boost local economies and create employment. This move aims to support small-scale hospitality businesses in rural and semi-urban areas, with stakeholders optimistic about its potential impact. Challenges remain in smooth implementation and securing financial assistance.

The Centre's decision to promote homestays as a key component of tourism development has received praise from stakeholders. Many believe it will invigorate local economies and provide job opportunities.

In her Budget speech, Union Finance Minister Nirmala Sitharaman announced the inclusion of homestays in Mudra loans, a step designed to aid small hospitality ventures in rural and semi-urban regions.

Industry experts call for efficient implementation to ensure the initiative reaches its intended beneficiaries.

(With inputs from agencies.)