The Union Budget 2024, presented by Finance Minister Nirmala Sitharaman, has placed a significant focus on the development of domestic tourism in India. With the aim of boosting tourism revenue and creating employment opportunities, the budget outlines plans to enhance infrastructure, connectivity, and amenities in various tourist destinations, including the picturesque islands of Lakshadweep. This article delves into the key highlights of the budget and its implications for the tourism sector.
The Union Budget 2024 recognizes the immense potential of domestic tourism in India. As the country’s economic strength continues to grow, more and more Indians are aspiring to travel and explore their own country. To tap into this emerging fervour for domestic tourism, the government has allocated funds towards the development of port connectivity, tourism infrastructure, and amenities in popular tourist destinations.
Focus on Lakshadweep
One of the noteworthy mentions in the budget speech was the inclusion of Lakshadweep as a key focus area for tourism development. Lakshadweep, a group of beautiful coral islands located off the southwestern coast of India, has been gaining attention as a potential tourist hotspot. Prime Minister Narendra Modi’s visit to the islands earlier this year further highlighted its tourism potential.
Lakshadweep offers a unique blend of natural beauty, pristine beaches, and diverse marine life, making it an attractive destination for tourists. The Finance Minister acknowledged the significance of Lakshadweep in promoting tourism and emphasised the need for investments in port connectivity, infrastructure, and amenities to harness the tourism potential of the islands.
Boosting tourism infrastructure
The Union Budget 2024 aims to encourage states to take up comprehensive development of iconic tourist centres and enhance their branding and marketing on a global scale. A framework for rating these centres based on the quality of facilities and services will be established. Furthermore, long-term interest-free loans will be provided to states for financing the development of tourism infrastructure, ensuring a matching contribution from the states.
Employment generation
The focus on tourism development, including in Lakshadweep, is expected to generate employment opportunities across various sectors. The growth of tourism not only creates direct job opportunities in the hospitality and travel industry but also stimulates ancillary sectors such as transportation, handicrafts, and local entrepreneurship.
Investments and partnerships
To facilitate the development of tourism infrastructure in Lakshadweep, the government plans to attract investments from both domestic and international sources. Public-private partnerships (PPPs) will play a crucial role in this endeavour. By encouraging private sector participation, the government aims to leverage their expertise and resources to expedite the development process.