Budget 2024: What did FM Nirmala Sitharaman say on domestic tourism

From interest-free loans to Lakshadweep and island connectivity, here is everything Finance Minister Nirmala Sitharaman said on tourism in the Interim Budget 2024

Interim Budget 2024: Union Finance Minister Nirmala Sitharaman presented the Interim Budget on February 1 at 11 am in the Parliament. This marked the Finance Minister's sixth Budget presentation under the Bharatiya Janata Party-led government. FM Sitharaman emphasised India's growing popularity as a global tourist destination as well as its booming domestic segment, spanning from business to spiritual tourism. Here is what FM Sitharaman said in Part A of the Interim Budget. 

India: A global 'business tourism' destination

The finance minister emphasised the success of the G20 Summit and how India's presidency opened up opportunities for tourism in various previously unexplored destinations in the country. She said that the country is now slowly becoming a popular destination for "business and conference tourism."

 

Tourist centres to be set up for spiritual tourism

Touching on the recent consecration of the Ram temple in Ayodhya, FM Sitharaman proposed setting up iconic tourist centres.

"Our middle class now also aspires to travel and explore. Tourism, including spiritual tourism, has tremendous opportunities for local entrepreneurship, states will be encouraged to take up comprehensive development of iconic tourist centres branding and marketing them at global scale," the finance minister said in Part A of the Interim Budget speech.

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Long-term interest-free loans for tourism

FM Sitharaman stated that long-term interest-free loans would be provided to states to help finance tourism. She said, "A rating system based on the quality of facilities and services will be established. Long-term interest-free loans will be provided to states for financing these developments."

Lakshadweep and island tourism

Speaking on Indian islands, FM Sitharaman said, "Projects for port-connectivity, tourism infrastructure and amenities will be taken up on our islands, including Lakshadweep."

These projects aim not only to develop these regions and the tourism sector in India but also to generate employment.

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