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UP Tourism Policy 2018: B&Bs To Remain Under Residential Category

UP Tourism Policy 2018: B&Bs To Remain Under Residential Category

UP Tourism Policy 2018: B&Bs To Remain Under Residential Category
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The Chief Minister Yogi Adityanath-led Uttar Pradesh government is all set to leverage the cultural expanse of the state to promote tourism and in turn create more jobs. To achieve this, the state government on February 19 unveiled a tourism policy. Under this policy, the UP government aims to generate five lakh jobs every year, along with attracting an investment of Rs 5,000 crore. Launched by state’s Tourism Minister Rita Bahuguna Joshi, the government aims to achieve an annual rise of 10 per cent in foreign and 15 per cent in domestic tourists coming to the state.

“The policy will be applicable for five years and has set a  target of increasing domestic traffic by 15 per cent and foreign tourist arrivals by 10 per cent. The sector will generate five lakh direct or indirect jobs and attract an investment of Rs 5,000 crore per year,"  Joshi reportedly said.

Here are some new additions to the policy:

Budget allocation: The state government this year has given a Budget Estimate of Rs 687 crore to tourism with an additional Rs 650 crore to be provided by the Centre for different schemes.

Women tourists: A special focus has been laid on the safety of women tourists.

Heritage hotels: Under the new policy 50 new heritage hotels will be set up across the city. Additionally, the government aims to restore and convert 10 heritage buildings into heritage hotels per year.

Larger set of audience: The government also aims to attract one lakh additional tourists to the national parks and the wildlife sanctuaries in the state.

Promoting eco-tourism: A special focus will be laid on eco-tourism and promoting local entrepreneurship avenues. For this the government will conduct various fairs and festivals. Also, the tourism department would create land bank to promote more hospitality businesses to flourish in the state.

Most preferred: With this policy the government aims to make UP the most-preferred tourist destination in the country.

Investments: The tourism department, which has received an investment of Rs 10,000 crore so far from 23 organisations, will use these funds to develop and maintain all tourist sites within 20 kilometres of 10 tourism circuits, including Ramayan circuit, Krishna/Braj circuit, Buddhist circuit, wildlife and Eco tourism circuit, Bundelkhand circuit, Mahabharata circuit, Shakti Peeth Circuit, Aadhyatmik circuit, Sufi/ Kabir circuit and Jain circuit.

Loans at lower interest rates: For those looking for a startup fund, under the new scheme can avail of loans at lower interest rates. The interest subsidy offered would be five per cent of the loan amount with maximum of Rs 25 lakh, and a 100-per-cent waiver on stamp duty, conversion and development charges.

Promotion of local artisans: To promote local artisans, cuisines and culture, the government will provide Rs 5 lakh subsidy to individuals or groups involved in reviving indigenous and scarce art, music, craft, folk dance and cuisine of UP.

Career in hospitality: For those planning to make a career in hospitality will get a reimbursement of 100 per cent of hospitality-related courses of fee up to Rs 10,000 per year, per person. 

Subsidy for hotels: To promote the hospitality sector, the light and sound and laser shows will be granted a subsidy of 25 per cent. Also, an incentive of 20 per cent will be given to new budget hotels, tented accommodation, heritage sites, and 15 per cent to new hotels, resorts, wellness and convention centres.

Introducing B&B scheme: The government under the new policy would focus on introducing the bed and breakfast scheme which will be applicable to residential properties as well as ashrams. According to the policy, the B&B establishments will remain under residential category and domestic rate for electricity and water tax will be charged.

 The impact

All these announcements under the new tourism policy will have a positive impact on the real estate markets of the state. A special focus on heritage sites will ensure that infrastructure and real estate around such areas flourish. Moreover, the B&B scheme will open up a new business avenue for residential property owners.

Last Updated: Wed Feb 28 2018

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