India’s tourism industry has lauded the proposed Budget allocation of ₹2,479 crores for the financial year 2024-25. Key projects, such as the Vishnupath and Mahabodhi temples in Bihar, will be expanded, drawing inspiration from the successful Kashi Vishwanath Corridor model.
“The development of more than 100 airports in India till the year 2025 will allow the new and offbeat destinations to emerge and grow at a faster rate. Announcing Rakhigarhi, Haryana amongst the five archaeological sites with on-site museums would also put the state of Haryana on the map of international travellers. Although a more liberal and reasonable investment and loan framework was expected from this budget, we do expect a more flexible and tolerant financial environment for smaller hospitality players to explore more growth avenues in the future.”
In the Union Budget for 2024-25, the Indian government has allocated Rs 2,479 crore to boost the tourism industry, driving optimism in the stock market with notable gains in travel-related stocks. This allocation supports the government’s goal of enhancing economic growth, creating jobs, and improving infrastructure.
The finance ministry outlined continued efforts to develop tourism circuits and preserve cultural heritage. Key projects, such as the Vishnupath and Mahabodhi temples in Bihar, will be expanded, drawing inspiration from the successful Kashi Vishwanath Corridor model. These initiatives aim to strengthen spiritual tourism and attract global visitors. Other cultural sites, including the hot spring at Rajgir and the push to make Nalanda a UNESCO World Heritage site, are also part of the plan.
Odisha will benefit from funding to develop temples, beaches, and scenic locations, positioning the state as a top destination for spiritual and nature-based tourism.
Analysts believe the sector’s growth potential is strong, with India poised to become a global tourism leader. With continued investment and effective marketing, the country could significantly enhance its tourism offerings, creating new economic opportunities and job growth.
The 2024-25 Union Budget demonstrates a strong commitment to tourism, with investments aimed at infrastructure, cultural preservation, and promotion. These efforts are expected to revitalize the sector, attract more tourists, and contribute to India’s economic growth.
