Union budget 2024 has a “heavy focus on domestic tourism”. States will be offered interest-free loans to boost tourism within their borders, said Finance Minister Nirmala Sitharaman. It holds substantial potential for generating tourism revenue in India and creating numerous job opportunities.

The Indian government has said that there will be a “comprehensive development of tourist centres.”

The finance minister said that states will be encouraged to take up comprehensive development of iconic tourist centres, branding and marketing them at global scale. “A framework for rating of the centres based on quality of facilities and services will be established. Long-term interest free loans will be provided to States for financing such development on matching basis.”

“Tourism, including spiritual tourism, has tremendous opportunities for local entrepreneurship,” she said. This comes in the backdroup of the emerging destinations like Ayodhya which have seen an influx of tourists with the inauguration of the Ayodhya Ram mandir.

To address the emerging fervour for domestic tourism, she said 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 Finance Minister highlighted that India’s robust economic standing has positioned the country as an appealing hub for both business and conference tourism. Emphasising the evolving aspirations of the middle class towards travel and exploration, the minister underscored the success of hosting G20 meetings, showcasing India’s diversity and expanding its global audience.

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