Plan outlay for tourism increased by 50%
In view of its beneficial impact on growth of employment, generation of foreign exchange, and the promotion of greater national integration through domestic tourism.
Union Finance Minister Yashwant Sinha, in his Union Budget for 2002-03 presented to the Parliament on Thursday, said that tourism constitutes a priority area in view of its beneficial impact on growth of employment, generation of foreign exchange, and the promotion of greater national integration through domestic tourism.
Sinha said that it is therefore proposed to implement a comprehensive tourism development package which includes:
1.tourism circuits would be identified for development to international standards during 2002-03.
2.Special Purpose Vehicles (SPVs) will be permitted to raise resources from both public and private sectors for infrastructure development in these circuits.
3.One special area, the World Heritage Site of Hampi, will be developed as an international destination for tourism based on an integrated master plan.
The Plan Outlay for tourism has accordingly been increased by 50% to Rs 225 crore for 2002-03.
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