Union Budget 2024: Key highlights of the transport and tourism sector

Finance Minister Niramala Sitharaman announced the Union Budget 2024 on Tuesday for the fiscal year 202425In her speech before proposing the developments in the tourism sector FM Sitharaman said Tourism has always been a part of our civilization Our efforts in positioning India as a global tourist destination will also create jobs stimulate investments and unlock economic opportunities for other sectorsPresenting the Union Budget 2024 in the Lok Sabha she said the budget envisages sustained efforts on nine priorities that include productivity and resilience in agriculture employment and skilling inclusive human resource development and social justice manufacturing and services urban development energy security infrastructure innovation research and development and next generation reformsHere are the key highlights of the transport and tourism sectorEfforts to position India as a global tourist destination will also create jobs stimulate investments and unlock economic opportunities for other sectorsComprehensive development of the Vishnupad Temple Corridor and Mahabodhi Temple Corridor will be supported modelled on the successful Kashi Vishwanath Temple Corridor to transform them into worldclass pilgrim and tourist destinationsA comprehensive development initiative for Rajgir will be undertakenThe government will support the development of Nalanda as a tourist centre besides reviving Nalanda University to its glorious statureThe government will provide assistance for the development of Odisharsquos scenic beauty temples monuments craftsmanship wildlife sanctuaries natural landscapes and beachesNoting the tremendous potential for cruise tourism in India FM Nirmala Sitharaman proposed a simpler tax regime for foreign shipping companies operating domestic cruises in the countryThe government will support the development of road connectivity projects namely 1 PatnaPurnea Expressway 2 BuxarBhagalpur Expressway 3 Bodhgaya Rajgir Vaishali and Darbhanga spurs and 4 additional 2lane bridge over the Ganga at Buxar at a total cost of 26000 croreOn the Amritsar Kolkata Industrial Corridor the government will support the development of an industrial node at Gaya This corridor will catalyze industrial development in the eastern regionUnder the Act for promoting industrial development funds will be provided for essential infrastructure such as water power railways and roads in Kopparthy node on the VishakhapatnamChennai Industrial Corridor and Orvakal node on the HyderabadBengaluru Industrial CorridorAn additional allocation will be provided this year towards capital investment for economic growthPhase IV of the Pradhan Mantri Gram Sadak Yojana PMGSY will be launched to provide allweather connectivity to 25000 rural habitations that have become eligible in view of their population increaseTo promote domestic aviation and boat and ship MRO the government proposed to extend the period for export of goods imported for repairs from six months to one year In the same vein it proposed to extend the time limit for reimporting goods for repairs under warranty from three to five yearsLandrelated reforms and actions both in rural and urban areas will cover 1 land administration planning and management and 2 urban planning usage and building bylaws These will be incentivized for completion within the next 3 years through appropriate fiscal support