Union Finance Minister Nirmala Sitharaman, while announcing the Union Budget 2025 on Saturday said that the government will develop the country's top 50 tourist destination sites.
This will be done in partnership with states through a challenge mode. States will also be given performance-linked incentives for the effective management of destinations. Land for building key infrastructure will have to be provided by states. Hotels in those destinations will be included in the infrastructure HML.
Finance minister also announced that Micro Units Development & Refinance Agency Ltd. (MUDRA) loans will be provided for homestays.
The development will have a special focus on the destinations related to the life and times of Lord Buddha. There will also be emphasis on places of spiritual and religious significance as it was mentioned in the July 2024 budget.
To promote medical tourism and Heal in India, the government will work in partnership with the private sector.
Finance Minister also said that the government will introduce streamlined e-visa fee waivers for certain tourist groups that will help to boost the tourism sector. Also, they will work to improve ease of travel and connectivity to tourist destinations.
Sitharaman said, "We will work with states to develop 50 top tourist sites, enhancing their infrastructure and global appeal."
What is the MUDRA loan?
According to a survey, most small/micro units in the country are forced to borrow from informal sources or use their limited-owned funds. MUDRA loans aim to bridge this gap and will aim to increase the confidence of the aspiring young people to become first-generation entrepreneurs as well as existing small businesses to expand their activities.