Maharashtra’s New Tourism Policy: Govt to Invest ₹1 Lakh Crore, Create 18 Lakh Jobs with Focus on Workcation and Rural Development
The Sahyadri mountain ranges, the beaches of Konkan – these and many more attractions bring millions of tourists to Maharashtra each year. The tourism sector is a lifeline for many families in the state. To give this vital sector a significant push, government has rolled out the ambitious ‘Tourism Policy 2024’.
Objectives and Investment
Maharashtra’s new tourism policy aims to double the number of tourists in the next decade by enhancing tourist spots and infrastructure. The government plans to invest around Rs. 1 lakh crore, creating 18 lakh direct and indirect jobs in both rural and urban areas.
Key Initiatives
Here’s what the policy is focusing on to boost tourism and contribute to Maharashtra’s goal of becoming a $1 trillion economy by 2028:
- Infrastructure Development: Building better infrastructure and partnering with tour operators and MICE (meetings, incentives, conference, exhibition) organizers to double revenue generation.
- Workcation Concept: Promoting ‘workcation’, a blend of work and vacation, inspired by the remote work trend during the COVID-19 pandemic.
- Project Incentives: Categorizing tourism projects into A, B, and C tiers, with incentives like GST waivers, electricity rate concessions, and stamp duty reductions.
Sustainable and Responsible Tourism
To promote sustainable and responsible tourism, the government will present various awards. The policy emphasizes rural and agricultural tourism, aiming to revive local culture, art, cuisine, and festivals.
Specific Incentives and Goals
Here are some key incentives under Maharashtra’s new tourism policy:
- Up to ₹20 crore or 20% of eligible capital investment for hotels, motels, youth hostels, youth clubs, log huts, and cottages.
- 15% of capital investment or up to ₹15 crore for restaurants, food kiosks, food courts, MICE centers, amusement parks, golf courses, unity malls, cultural centers, multiplexes, handicraft shops, theaters, and art galleries.
Additional incentives include:
- SGST reimbursement from 50% to 100% based on project size.
- Electricity duty/tariff concessions from 50% to 100% depending on the scale of the project.
- Interest subventions up to 5% on loans ranging from ₹5 crore to ₹25 crore.
- Additional FSI of 3 to 5 in Mumbai and up to 4 in the rest of Maharashtra.
Emphasizing Rural Development
A major focus is on rural development, with plans to promote local culture, art, cuisine, and festivals. The policy supports rural tourism and homestays. Following the successful Mumbai Festival model, cities like Nagpur will organize their own festivals, alongside monsoon and Ganesh festivals to boost tourism.
Conclusion
Maharashtra’s new tourism policy is set to invigorate the state’s tourism sector, providing an economic boost and creating numerous job opportunities. By focusing on sustainable tourism, rural development, and innovative initiatives, the policy aims to attract more tourists and significantly contribute to the state’s economic growth.
