New Delhi, Feb 1 (KNN) During the presentation of the Interim Budget 2024, Finance Minister Nirmala Sitharaman announced an increase of over 2 per cent in the budget estimate for the tourism industry.

Addressing the rising interest in domestic tourism, Sitharaman unveiled plans for infrastructure and port connectivity projects in Indian islands, particularly highlighting Lakshadweep. This initiative aims not only to enhance tourism but also to generate employment opportunities.

Emphasising the encouragement for states to undertake comprehensive development of iconic tourist centres, the Finance Minister proposed branding and marketing these centres globally.

To facilitate this, the central government plans to provide long-term interest-free loans to states, fostering financial support for tourism-related development projects.

The budget estimate for the financial year 2024-25 stands at Rs 2,449.62 crores, reflecting a notable increase from Rs 2,400 crores allocated in the previous fiscal year (2023-24). The revised estimate for 2023-24 was Rs 1692.10 crores.

Sitharaman stated, “To address the emerging fervor for domestic tourism, projects for port connectivity, tourism infrastructure, and amenities will be taken up on our islands, including Lakshadweep. This will help in generating employment also.”

The recent surge in tourist bookings in Lakshadweep, following Prime Minister Narendra Modi's visit and subsequent events, underscores the growing importance of the region in India's tourism landscape.

Highlighting the potential for tourism entrepreneurship, the finance minister proposed a framework for the “rating of the centres based on the quality of facilities and services.”

She further pointed out the success of organising G20 meetings in various locations, showcasing India's diversity on a global stage.

Sitharaman concluded, “Our economic strength has made the country an attractive destination for business and conference tourism. Our middle class also now aspires to travel and explore. Tourism, including spiritual tourism, has tremendous opportunities for local entrepreneurship.”

(KNN Bureau)