Intending to give a major boost to cruise tourism, govt on Tuesday proposed a “simpler” tax regime for foreign shipping companies operating domestic cruises in India.
“There is tremendous potential for cruise tourism in India. To give fillip to this employment-generating industry, I am proposing a simpler tax regime for foreign shipping companies operating domestic cruises in the country,” finance minister Nirmala Sitharaman said in her Budget speech.
“Tourism has always been a part of our civilization. Our efforts in positioning India as a global tourist destination will also create jobs, stimulate investments and unlock economic opportunities for other sectors,” she said.
The Finance Minister’s Budget speech highlighted the government’s commitment to making India a premier global travel destination through targeted investments and strategic initiatives. By focusing on the development of iconic spiritual and cultural sites, alongside the promotion of cruise tourism and beach tourism, the government aims to attract both domestic and international tourists.
The FM announced that the Vishnupad Temple Corridor and Mahabodhi Temple Corridor will be supported and modelled on the successful Kashi Vishwanath Temple Corridor, to transform them into “world class pilgrim and tourist destinations”.Sitharaman also made announcements on development of Rajgir and Nalanda in Bihar. “Rajgir holds immense religious significance for Hindus, Buddhists and Jains. The 20th Tirthankara Munisuvrata temple in the Jain Temple complex is ancient. The Saptharishi or the seven hot springs form a warm water Brahmakund that is sacred. A comprehensive development initiative for Rajgir will be undertaken.” She also announced that govt will support the development of Nalanda as a tourist center besides reviving Nalanda University.
Budget allocation for tourism stands at INR 2,479.6 crore, compared to the revised estimates of INR 1,692.1 crore in 2023-24. The budget estimate for 2023-24 was INR 2,400 crore.
