The state cabinet on Tuesday approved the Bihar Tourism Policy 2023 in a bid to attract more investments in the tourism sector and boost tourist footfall in Bihar.
According to the tourism department, the new policy envisages several financial incentives for investors. The incentives include a capital subsidy of 30% for investments up to Rs 10 crore, 25% for investments up to Rs 50 crore and 25% for investments exceeding Rs 50 crore, with a maximum limit of Rs 25 crore. According to the department, 50% of the subsidy will be paid at the commencement of commercial operations, 25% after two years of commercial operation, and 25% after five years of commercial operation.
Other financial incentives include 100% reimbursement of land conversion fee, stamp duty and registration fee for land purchase, sale and transfer; 80% reimbursement of GST on commercial operation for up to five years and 100% reimbursement of electricity tariff for new tourism units for five years.
Hoteliers and tour operators will be provided a 5% reimbursement of the monthly remuneration paid to tourist guides. The maximum monthly reimbursement limit for this will be Rs 5,000 per guide for up to two years. The policy also includes incentives for green certification, MICE (meetings, incentives, conferences, and exhibitions) promotions, and other financial subsidies to encourage sustainable tourism practices.
While the Homestay and Caravan Tourism Policies have taken centre stage already, the state government is gearing up for the introduction of additional policies such as agro-eco tourism, wellness, and adventure, focusing on attracting investments while ensuring transparency and regulation in the tourism landscape. The Minister for Tourism, IT, E&C and Printing and Stationary, Rohan Khaunte shared all and more with ETTravelWorld. Read here.
The policy aims to develop fundamental infrastructure near tourist destinations in the state and includes provisions for various stakeholders.“The new policy aims to create employment opportunities for people at tourist destinations. We are hopeful that the policy will help Bihar attract an investment of Rs 10,000 crore in tourism sector,” state tourism department secretary Abhay Kumar Singh said.
The cabinet also approved construction of an alternative approach path with sheds and a bus depot near Vishnupad Temple in Gaya. A sum of Rs 62 crore has been sanctioned for this project.
