Finance Minister Sitharaman Puts Emphasis on Tourism Development in Interim Budget 2024-25

New Delhi:  Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, highlighted the crucial role of comprehensive development of tourist centers in achieving the vision of ‘Viksit Bharat’ (Developed India) by 2047, while presenting the Interim Budget 2024-25 in Parliament today.

Focusing on the promotion of iconic tourist centers, Minister Sitharaman announced that states will be encouraged to undertake comprehensive development, branding, and global-scale marketing of these centers. To facilitate such development, long-term interest-free loans will be provided to states, with the central government contributing on a matching basis. Additionally, a framework for rating the centers based on the quality of facilities and services will be established to promote high standards.

Recognizing the growing aspiration of India’s middle class to travel and explore, Minister Sitharaman emphasized the vast opportunities for local entrepreneurship in tourism, including spiritual tourism. To address the rising interest in domestic tourism, the government will initiate projects for port connectivity, tourism infrastructure, and amenities on islands, including Lakshadweep, with the aim of generating employment opportunities.

In her Budget speech, Minister Sitharaman emphasized India’s diverse offerings to the global audience. She cited the successful organization of G20 meetings in sixty different places, showcasing the diversity of India. The country’s economic strength, she noted, has made it an attractive destination for business and conference tourism on the global stage.

The government’s focus on tourism development aligns with the broader vision of fostering economic growth, generating employment, and showcasing India’s rich cultural and natural heritage to the world. The measures announced in the Interim Budget are expected to contribute to the overall development of the tourism sector, boosting both domestic and international tourism in the years to come.