Bihar Cabinet Greenlights Tourism Policy 2023 for Economic Boost, Investment Worth Rs 10,000 Crore Expected

Mubarak Ansari

PATNA – In a decisive move to stimulate economic growth and enhance infrastructure, the Bihar State Cabinet, under the leadership of the Chief Minister Nitish Kumar, approved the Bihar Tourism Policy 2023. The policy aims to foster all-encompassing development and attract investments in the tourism sector.

Tourism Secretary Abhay Kumar Singh, addressing a press conference at the Secretariat auditorium, emphasized the integral role tourism plays in economic and social activities globally. Citing examples from countries like Sri Lanka, Malaysia, Thailand, and Indian states like Jammu and Kashmir, Goa, Sikkim, and Rajasthan, Singh highlighted the potential for economic stability and growth through tourism. The newly approved policy is anticipated to attract investments totaling Rs 10,000 crore, according to estimates by the tourism department.

Present at the press conference were Bihar Tourism Development Corporation Managing Director Nand Kishore and Tourism Director Vinay Kumar Rai.

Objectives of Bihar Tourism Policy 2023:

1. Creation of World-Class Infrastructure: Aiming for top-notch facilities.

2. Creation of Tourist Products and Infrastructure: Developing diverse and attractive tourist offerings.

3. Development of Talented Workforce: Through skill training initiatives.

4. Emphasis on Tourist Safety and Facilities: Highest standards for safety and excellence.

5. Implementation of Technology-Focused Tourism: Incorporating cutting-edge technology in tourism initiatives.

The policy anticipates unprecedented growth in the tourism sector, fostering economic activities, job creation, and business opportunities within the state. Financial incentives will be extended to beneficiaries and investors associated with the tourism sector.

Key Provisions:

Capital Subsidy:

– 30% subsidy on investments up to Rs 10 crore, capped at Rs 3 crore.

– 25% subsidy on investments up to Rs 50 crore, capped at Rs 10 crore.

– 25% subsidy on investments exceeding Rs 50 crore, capped at Rs 25 crore.

– Subsidy reimbursement milestones: 50% on commercial operation commencement, 25% after 2 years, and 25% after 5 years.

Other Financial Incentives:

1. Land Conversion Fee: 100% reimbursement.

2. Stamp Duty and Registration Fee: 100% lump-sum reimbursement for lease/sale/transfer of land.

3. Reimbursement of SGST: 80% reimbursement for five years from the date of commercial operation, capped at 100% of the sanctioned project cost.

4. Electricity Duty Reimbursement: 100% reimbursement for new tourism units for five years.

5. Reimbursement to Empaneled Entities: Reimbursement of 5% of the monthly remuneration paid to recognized tourist guides for two years, with a maximum monthly limit of Rs 5,000 per guide.

6. Green Certification: 50% reimbursement of the certification fee for obtaining green certification from an internationally recognized agency, capped at Rs 10.00 lakh.

7. MICE Incentive: 50% GST reimbursement for organizing costs of meetings, exhibitions, conferences, and events.