Category Archives: States

Speaking of the new Tata Asset Management’s tourism Index Fund, Anand Vardarajan, Chief Business Officer at Tata Asset Management said, “We are witnessing exponential growth in domestic aviation, hotels, restaurants and travel which augurs very well for the tourism segment.  All types of travel, be it pilgrimage, business, medical or leisure are registering a surge.  This makes a compelling case for looking at tourism as a segment and how one could invest and aim to benefit from the growth of this sector.”

Rules for FDI and Overseas Investments to be simplified to increase FDI inflows and promote use of Indian Rupee as currency for overseas investments, said the FM in her Interim Budget speech. She also said that 1.5 lakh core provision for long-term interest-free loans will be made to support infrastructure investment by state governments. The states will also be incentivised to implement Business Reforms Action Plans and digitalisation to develop tourism. All in all, the Union Budget 2024 was not a total let-down as far as tourism is concerned. Perhaps it has sown the seeds for a better tourism experience in India. But that may be too far into the future. Moreover, there has been no change in taxation, which has disappointed the travel trade no end. Their main gripe was the extremely high GST rates and the procedures, as well as bearing the onus of determining the quantum of TCS.

Sitharaman has raised our hopes when it comes to tourism in India, which bodes well not just for domestic but also inbound tourism, which has been suffering since Covid. Delivering to the states, she highlighted the development of ‘iconic’ tourism centres by the states who will be allowed long-term, interest-free loans for such long-term development. For domestic tourism, the FM announced projects for better port connectivity and more tourism infrastructure, that will be taken up on islands in India, including of course Lakshadweep! All in all, her Budget highlighted promoting investments into India, including its infrastructure projects. In positioning India as a global tourist destination, we’ll also create jobs, stimulate investments and unlock economic opportunities for other sectors. In addition to the measures outlined in the interim budget, I propose the following measures. Vishnupath temple at Gaya and Mahabodhi temple at Bodh Gaya in Bihar are of immense spiritual significance. Comprehensive development of Vishnupath temple corridor and Mahabodhi temple corridor will be supported, modeled on the successful Kashi Vishwana temple corridor to transform them into world-class pilgrim and tourist destinations. Rajgir, Rajgir holds immense religious significance for Hindus, Buddhists and Jains. The 20th Tirthankara Muni Suvaratha temple in the Jain complex, Jain temple complex is ancient. The Sapta Rishi or the seven hot springs form a warm water Brahmkund that is sacred. A comprehensive development initiative for Rajgir will be undertaken. Our government will support the development of Nalanda as a tourist center besides reviving Nalanda University to its glorious stature. Odisha’s scenic beauty, temples, monuments, craftsmanship, wildlife sanctuaries, natural landscapes and pristine beaches make it an ultimate tourism destination. Our government will provide assistance for their development to Odisha …

With the aim of Viksit Bharat by 2047, the Interim Budget 2024 yet again showcased a lofty imagery of the ‘new and improved’ India. However, it does fleetingly mention tourism and its development – directly and indirectly. To build a foundation for future development, the FM underlined its Startup Credit Guarantee Schemes that will encourage new businesses in various sectors including, hopefully, tourism. She mentioned that the country ‘is capable of creating more opportunities’ which cannot be further from the truth. Sitharaman added that the focus will be on ffostering and sustaining growth to create great opportunities for all and to fulfil aspirations. She said that the MSME will be an important element of this policy. Coming to aviation, she said that it has been ‘galvanized in the past 10 years’ with number of airports doubled, expansion of the UDAN scheme, 517 new routes carrying 1.3 crore passengers, and the expansion of existing and new airports that will continue, she committed. Mentioning the success of G20 meets that took place across India, she said the country has made itself an attractive destination for MICE. ‘The corporates want to explore India and religious tourism offers great opportunities.

Pravati Parida, Deputy Chief Minister, Odisha said that state government will develop rural tourism in the state. Funds will be sanctioned for the development of Maa Mangala temple, along with road from Nimapara to Astaranga and Konark. Villagers will be made aware of monuments in the region, and products of Self Help Groups will be on sale in villages.

39th IATO Annual Convention is scheduled to take place from 30 August to 2 September 2024 with the theme ‘Resurgent India Inbound’ in Bhopal, Madhya Pradesh. The event is expected to witness the participation of 15 states and 900-1000 delegates from all over the country, which includes leaders from travel industry.

Yuri Alemao, Leader of opposition, Goa Legislative Assembly, said, “I will vociferously raise concerns of tourism stakeholders in Assembly session.” He assured the Travel and Tourism Association of Goa (TTAG) that he will speak against the various deviations in the proposed Bill from the Tourism Policy 2020, which ignores the role of local tourism stakeholders.

Expressing their dismay against the proposal of 2 per cent sustainability fee, TTAG wrote to Goa’s Tourism Department stating, “Imposition of 2 per cent levy on every invoice will adversely affect our competitiveness and the compliance burden will increase. No other tourism destination in India’s inbound market levies such a fee.”

Bidisha Mukherjee, Additional Managing Director, Madhya Pradesh Toursim Board (MPTB), shared, “MP Tourism aims to position the state as a premier multi-speciality destination. There has been a three-fold increase in footfall numbers, from 32.1 million visitors in 2022 to 112 million in 2023. Inbound tourism is also on the rise.”

Addressing the ‘Eco-Tourism Samvad,’ Yogi Adityanath, CM, Uttar Pradesh, said, “There is immense tourism potential in UP. Last year, the state witnessed the arrival of 48 crore tourists. UP offers a myriad of offerings such as spiritual tourism, heritage, and eco-tourism. An average of 1.5-2 lakh tourists alone visit Ayodhya daily.”