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Our Bureau

New Delhi , Feb. 10

IN an effort to access funds at cheaper rates and avail itself of concessions under the income-tax rules, the domestic hotel industry has sought infrastructure status.

The issue was raised with the Finance Minister, Mr P. Chidambaram, by hotelier and Member of Parliament, Mr Lalit Suri, during the recent Parliamentary Consultative Committee meeting here.

"The Finance Minister asked me to send him a detailed note on the subject, which has been sent," Mr Suri told presspersons here on Thursday.

The Government's acceptance of the industry request would allow hotels to gain fiscal benefits, including tax concessions. "If the Government concedes our request, then it will be a big help," he said. He added that if infrastructure status was granted to the hotel industry then they would be able to access funds at rates which were at least two percentage points lower than at present. He added that India required at least another 1,00,000 hotel rooms at an investment of Rs 1,000 crore.

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