Interim Budget | Long Term Interest Free Loans For Iconic Tourist Spots
Chennai: Ahead of the elections, the interim budget sought to make political statements by mentioning the development of Lakshadweep as a tourism destination and promotion of spiritual tourism. States will receive long-term interest-free loans for the development of iconic tourist centres.
“Tourism, including spiritual tourism, has tremendous opportunities for local entrepreneurship,” the Finance Minister said in her Budget speech made days after the consecration of Ram temple in Ayodhya.
To address the emerging fervour for domestic tourism, projects for port connectivity, tourism infrastructure, and amenities will be taken up on our islands, including Lakshadweep. This will help in generating employment also, she said.
States will be encouraged to take up comprehensive development of iconic tourist centres, branding and marketing them at a global scale. A framework for rating of the centres based on the quality of facilities and services will be established. Long-term interest-free loans will be provided to states for financing such development on a matching basis.
The success of organizing G20 meetings in sixty places presented the diversity of India to a global audience and made the country an attractive destination for business and conference tourism.
“The enhanced focus of the government for promotion of MICE, religious tourism, iconic tourism centres and domestic tourism will lay the foundation of tourism development and equip the sector to achieve the ambitious target of welcoming 100 million tourists by 2047. The sector is delighted to hear about the government’s vision to grant long-term financing to states for developing iconic tourism centres,” said Pradeep Shetty, President of the Federation of Hotel & Restaurant Associations of India