Bihar Launches Tourism Policy 2024: Aims to Boost Sector with World-Class Infrastructure and Incentives
Patna: Under the Bihar Tourism Policy, the state is set to build world-class tourism infrastructure, develop innovative tourism products, and cultivate a skilled workforce through comprehensive training. The Tourism Department is offering direct financial assistance for investments in the tourism sector.
Detailed guidelines for the new policy are available on the state government website (https://state.bihar.gov.in/bihartourism/CitizenHome.html).
Key Financial Incentives:
- 30% grant on investments up to Rs 10 crore
- 25% grant on investments up to Rs 50 crore (maximum Rs 25 crore)
- Grants are available for investments starting from Rs 75 lakh
Objectives of Bihar Tourism Policy:
1. Creation of world-class infrastructure
2. Development of tourism products and infrastructure
3. Cultivation of a skilled workforce through training
4. Ensuring the highest standards for tourist safety and excellent facilities
5. Implementation of best-in-class tourism-focused technology
Expected Benefits:
The policy is anticipated to spur growth in the tourism sector, leading to increased economic activities, employment, and business opportunities within the state. Financial incentives will be provided to beneficiaries and investors associated with the tourism sector.
Main Provisions:
Capital Subsidy:
– 30% subsidy on investments up to Rs 10 crore (maximum limit Rs 3 crore)
– 25% subsidy on investments up to Rs 50 crore (maximum limit Rs 10 crore)
– 25% subsidy on investments above Rs 50 crore (maximum limit Rs 25 crore)
– Subsidy reimbursement schedule: 50% at the start of commercial operations, 25% after two years, and 25% after five years
Other Financial Incentives:
1. Land conversion fee: 100% reimbursement
2. Stamp duty and registration fee: One-time 100% reimbursement for lease/sale/transfer of land
3. SGST reimbursement: 80% reimbursement for five years from the date of commercial operations, up to 100% of the approved project cost
4. Electricity duty reimbursement: 100% reimbursement for new tourism units for five years
5. Employment incentives for tourist guides: 5% reimbursement of monthly remuneration paid to guides recognized by the Department of Tourism (maximum monthly reimbursement Rs 5,000 per guide for two years)
6. GREEN Certification: 50% reimbursement of certification fee from an internationally recognized agency (maximum limit Rs 10 lakh)
7. MICE incentives: 50% GST reimbursement for organizing meetings, exhibitions, conferences, and events
By prioritizing these initiatives, Bihar aims to enhance its appeal as a premier tourism destination while ensuring sustainable growth and development in the sector.
