For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Budget Update 2020: India's Tourism To Get A Boost of Rs 2500 Cr

|

The Competitive Index of the World Economic Forum, which fell from 65 in 2014 to 34 in 2019. More Tejas Express trains would link different iconic tourist destinations throughout the nation.

New Delhi: The tourism industry in India has accepted the planned Rs 2,500 crore Budget for the 2020-21 financial year. Finance Minister Nirmala Sitharaman said on Saturday that growing tourism is directly linked to growth and jobs.

Budget Update 2020: India's Tourism To Get A Boost of Rs 2500 Cr

In addition (tourism) plays a critical role in the development of employment - accounting for 26.7 million workers in 2018 and is expected to create work for almost 53 million people, directly and indirectly, by 2029, "said Madhavan Menon, President and Chairperson for the tourism industry. The industry contributes significantly 10 per cent to India's GDP which gives a boost to the education and skill development of our tourism sector of India. In presenting the FY 21 budget, the Minister emphasized that India rose from a 65th in 2014 to a 34th in 2019 on the World Economic Forum's Travel & Tourism Competitive Index. Minister said "I expect the governments of the States to develop a road map for specific destinations and formulate financial plans during 2021, which will provide the states with specific assistance in 2020-21,"

Budget Update 2020: India's Tourism To Get A Boost of Rs 2500 Cr
 

Managing Director Vishal Suri also said that the new personal income tax system would place higher disposable incomes in the hands of individuals by providing a lower rate scheme option if all exemptions (including investment-related exemptions) were scrapped. More Tejas Express trains were launched in May 2017, which are the nation's first semi-high-speed, fully air-conditioned trains, with new onboard facilities and amenities. Sitharaman said that it will be linked with several iconic tourist destinations across the nation. Sterling Holidays, President and Chief Executive Officer of Ramesh Ramanathan stated the budget will have an overall multiplier effect.

In addition to the tourism expenditure, the allocation of 1.7 lakh crore for transport and the plan for more transportation services, including 2,000 km of strategic highways along with Tejas Express trains, and 100 more airports to be built by 2024 to help the UDAN (regional airport development) scheme, will make your travel more smoother. For enhancing connectivity The golden quadrilateral (national four-meter highway network) will also work towards making travel in India realistic. The Ministry of Culture received a total of Rs 3,150 Cr for FY21 in the meantime.

Budget Update 2020: India's Tourism To Get A Boost of Rs 2500 Cr

The Minister has also said that the Ministry of Culture should set up an Indian Institute for Heritage and Conservation. The Institute presents topics like museology and archaeology. The Minister said that four more musea will undergo restoration, apart from the recurrence of the oldest Indian museum in Kolkata. The centre has also suggested the establishment by the Shipping Minister of a Jharkhand Tribal Museum and a Lothal Maritime Museum, the Harrapan Age maritime site near Ahmedabad.

Read more about: budget 2020 union budget 2020
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more