NEWS / BUDGET
UNION BUDGET 2019-2020; MAJOR BOOST FOR TOURISM SECTOR 17 ICONIC TOURISM SITES BEING DEVELOPED INTO WORLD CLASS TOURIST DESTINATIONS
T
he union Budget 2019-2020 presented by Ms. Nirmala Sitharaman, Union Minister for Finance, Government of India has given major thrust to travel, tourism and aviation industry in India with one nation travel card, regional airport hub, international level tourism infrastructure development for 17 iconic Tourism Sites across India and FDI in aviation and tourism sector. The Finance Minister said that the Government is developing 17 iconic tourism sites into world class tourist destinations which will serve as a model for other tourism sites. These sites would enhance visitor experience which will lead to increase visits of both domestic and international tourists at these destinations. In Transport sector, budget proposes PPP in railways, roadmap to make
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Tourism India July 2019
India a hub of maintenance, repair and overhaul and aircraft financing / leasing activities and Development of state road network. The Union Budget 2019-20 stresses upon the need for heavy investment in infrastructure, digital economy and job creation in small and medium firms to fulfill the aspiration of making India a 5 trillion Dollar economy. While delivering the budget speech in Parliament the Union Minister of Finance and Corporate Affairs, Ms. Nirmala Sitharaman pointed out that the Indian economy has added one trillion dollar in the last five years due to the various initiatives and reforms undertaken by the Government, and is poised to grow to be a 3 trillion dollar economy in the current year. Underlining the importance of “Make in India� for fulfilling this goal, the
Finance Minister has proposed a number of initiatives as part of a framework for kick-starting the virtuous cycle of domestic and foreign investments. Talking about the importance of programmes like Pradhan Mantri Gram Sadak Yojana, Industrial Corridors, Dedicated Freight Corridors, Bhartamala, Sagarmala, Jal Marg Vikas and UDAN for enhancing physical connectivity through various modes, the Finance Minister added that these initiatives will improve logistics, reduce the cost of transportation and increase the competitiveness of domestically produced goods. The Government will implement the essential elements of a regulatory roadmap for making India a hub for aircraft financing and leasing activities. This is critical to the development
