According to the experts giving a boost to the tourism at this point will help government which is battling widening of Current Account Deficit (CAD) at this point of time.
The current account deficit is the difference between inflow and outflow of foreign exchange. During 2012-13, the CAD was at all-time high of 4.8 per cent of GDP or $88.2 billion. Government proposes to bring it down to $70 billion or 3.8 per cent of the GDP.
According to sources, Congress Vice-President Rahul Gandhi had also discussed the issue with top officials of concerned ministries like tourism for relaxing visa norms for more countries.
In 2012, India received 6.58 million foreign tourists, up 4.3 per cent over the previous year. India's foreign exchange earnings in 2012 from tourists were $17.74 billion, showing an increase of 7.1 per cent year on year.
India's share in the international tourist receipts in the year 2012 was 0.64 per cent with overall ranking of 41. The country's share in international receipts in the year 2012 was 1.65 per cent with overall rank of 16.
Foreign exchange earnings from tourism during January to August 2013 were $12.025 billion with a growth of 6.7 per cent, as compared to $11.273 billion year on year.
