India Budget Boosts Tourism: Focus on Domestic Travel & Infra

Mumbai, Feb 1 (PTI) The tourism and hospitality sector lauded the government's focus on domestic tourism in the Interim Budget 2024-25, which was presented by Finance Minister Nirmala Sitharaman on Thursday.

"The government's continued focus on domestic tourism in the interim Budget 2024-25 is encouraging. Empowering iconic destinations and local entrepreneurs through interest-free loans and quality ratings will elevate India's tourism landscape. The projects to enhance connectivity through the development of airports, railways, metros, ports and the tourism infrastructure will enhance demand and generate employment," Radisson Hotel Group, South Asia, Chairman Emeritus and Principal Advisor K B Kachru said.

Crisil Market Intelligence and Analytics Director, Research, Pushan Sharma stated that a 45 per cent increase in allocation to the tourism sector to Rs 2,450 crore is expected to boost employment generation as well as the sector's share in overall GDP.

"Domestic tourism will also gain from setting up of a framework for rating tourism centres, providing of long-term interest-free loans to states, and continued focus on improving port connectivity, tourism infrastructure and island amenities.

"These drivers have the potential to increase the sector's share in overall employment to a top 20 country average of 11.4 per cent from 8 per cent and the share in GDP to top 20 country average of 10.3 per cent from 6.8 per cent," he added.

EaseMyTrip CEO and co-founder Nishant Pitti stated that the budget prominently highlights a substantial emphasis on the tourism, aviation, and railways sectors.

"It's truly exciting to observe the government's keen attention to nurturing and expanding both domestic and spiritual tourism and highlighting Bharat's strength through global events like G20.

"These measures are anticipated to spur economic growth, create employment, and create new opportunities, marking a progressive move towards positioning India as a global destination. The dedicated efforts ... are noteworthy with a special focus on developing island tourism and fortifying port connectivity, including Lakshadweep," he added.

Thomas Cook India Executive Chairman Madhavan Menon said, the interim Budget will create a multiplier effect across aviation, tourism and allied sectors, boosting growth and employment generation.

"What was noteworthy is the reference to Spiritual Tourism and projects for port connectivity, tourism infrastructure and amenities on islands including Lakshadweep '? aimed at development of India's hidden gems and employment opportunities," he noted.

Ravi Reddy, CSO of Simplify3X said, "The Union Budget 2024 reflects a forward-looking perspective with ambitious goals, envisioning a prosperous India in harmony with nature and bolstered by modern infrastructure to achieve a developed India by 2047.