A major part of Finance Minister Nirmala Sitharaman’s budget speech was dedicated to the travel and tourism sector with a number of key provisions announced for it.
The Indian Railways alone would see an investment of Rs 50 lakh crore between 2018-2030. “It is proposed to use Public-Private Partnership to unleash faster development and completion of tracks, rolling stock manufacturing and delivery of passenger freight services,” Sitharaman had said in her budget speech.
The proposed budget focuses on some very important factors when it comes to transportation. The government’s investment in road infrastructure will prove to be advantageous in the long run, especially for the transportation industry. The enhanced private participation in Indian Railways and metro connectivity will give further impetus towards creating an integrated intercity connectivity in India. The simplification of regulatory framework regarding permits and licenses for intercity transportation in India would allow deeper investments in the sector. This will help SME partners i.e. bus operators by allowing them to ride upon the infrastructure enhancements.
The improved connectivity comes as a major good news for travel and tourism industry which would welcome the push. In another positive step, the government is also developing 17 iconic Tourism Sites into world class tourist destinations and to serve as a model for other tourism sites. “The Iconic Tourism Sites would enhance visitor experience which would lead to increase visits of both domestic and international tourists at these destinations,” the finance minister had said.
Source – ZeeBiz