Interim Budget 2024: FM’s Rs 2,500 Cr Boost for Tourism Infra Development

The interim budget 2024-25 presented by Finance Minister Nirmala Sitharaman on February 1, 2024, has brought some cheer to the tourism sector, which has been severely hit by the Covid-19 pandemic. The FM announced a 44.7% increase in the allocation for the tourism ministry, from Rs 1,692.10 crore in the revised estimate of 2023-24 to Rs 2,449.62 crore in 2024-25.

The FM also announced several initiatives to improve the tourism infrastructure and connectivity in the country, especially on the islands and spiritual destinations. She said that projects for port connectivity, tourism infrastructure and amenities will be taken up on islands, including Lakshadweep, to cater to the growing demand for domestic tourism . She also said that the government will support and encourage states to comprehensively develop tourist centres and promote them globally.

The FM also highlighted the scope of spiritual tourism in India and said that the government will develop pilgrimage circuits such as Ramayana Circuit, Krishna Circuit, Buddhist Circuit and Sufi Circuit. She said that these circuits will not only showcase the rich cultural heritage of India but also generate employment opportunities for the local people.

The FM also allocated Rs 85,000 crore for developing 72 new greenfield airports under the UDAN scheme, which aims to enhance regional air connectivity and benefit travellers from Tier 2 and 3 cities. She also allocated Rs 2,662 crore for transforming the Mumbai-Delhi rail route, which will reduce the travel time between the two major cities to 12 hours. She also said that 40,000 bogies will be upgraded to Vande Bharat standards to improve safety and passenger experience.

The interim budget has been welcomed by the travel and tourism industry, which has expressed positive sentiments and hopes that the government’s focus on tourism growth will help revive the sector post-pandemic. The industry leaders have lauded the steps taken to develop new tourist destinations in India that can compete on a global scale and provide a superior travel experience to Indians .

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