Up next: Bridging the gap for better access to islands
Finance Minister Nirmala Sitharaman in her Interim Budget speech on Thursday announced that the Centre would take up development projects to improve facilities on the country’s islands, including Lakshadweep.
The FM said that projects for port connectivity, tourism infrastructure, and amenities would be taken up on the islands. The Lakshadweep islands had gained attention after Prime Minister Narendra Modi’s visit last month. This will also help in generating employment, the finance minister said.
Long-term interest-free loans will be provided to states for financing the development of iconic tourist centres, and for branding and marketing them at a global scale, she said.
Going forward, a framework for rating the tourist centres based on the quality of facilities and services provided will also be established.
“The success of organising the G20 meet in 60 places presented the diversity of India to a global audience. Our economic strength has made the country an attractive destination for business and conference
tourism. Our middle class also aspires to travel and explore,” Sitharaman said. “Tourism, including spiritual tourism, has opportunities for local entrepreneurship.
The recent consecration ceremony at the Ram temple in Ayodhya drew attention to the potential that spiritual tourism holds. A recent Jefferies report had stated that the Ram temple has the potential of attracting 50 million tourists annually.
To aid this growth in the travel and tourism sector, the ministry of tourism has been allocated ~2,449.62 crore in Budget 2024.
“The commitment to bolster domestic tourism through initiatives spanning rail and air travel, coupled with the emphasis on tourism-led destinations, particularly in the realm of island tourism and spiritual tourism, reflects a strategic vision for the longterm growth of the sector,” said Rajesh Magow, chief executive officer at Make My Trip.
“The allocation of interestfree loans to states for the creation of iconic tourist destinations is noteworthy. The expansion of airports and the PM Gati Shakti programme are pivotal in enhancing connectivity to previously unexplored regional gems,” he added.