The state budget for 2024-25 has imparted a big thrust to Kerala Tourism, making an allocation of INR 351.42 crores to carry forward the key projects and unveil new initiatives in the key sector, Tourism Minister, P A Mohamed Riyas said in a statement recently.
The budget, presented by Finance Minister K N Balagopal in the state assembly recently, made increased allocations to scale up infrastructure in promising segments like convention tourism and heritage and eco-tourism that will generate more revenue and jobs across the state, Riyas said.
“The budget comes as a huge endorsement of the projects in the tourism sector by earmarking substantial provisions for taking them forward to reinforce Kerala’s standing as a global experiential tourism hub and the most sought-after destination in India,” the Minister said.
The proposal to consider a low-interest loan scheme in collaboration with Kerala Financial Corporation (KFC) to scale up tourism infrastructure, anticipating an investment of INR 5000 crores will expedite growth. This envisages creation of an additional 10,000 hotel rooms in three years and world class convention centres to meet future demand, the Minister said.
The budget has also made allocations for improving standard of tourism facilities (INR 136 cr), marketing (INR 78.17 cr), heritage, culture and environment tourism (INR 24 cr), Responsible Tourism (INR 15 cr) subsidies and incentives (INR 15 cr) Kerala Tourism Development Corporation (INR 12 cr), skilling and professional quality improvement (INR 17.5 crore), eco-tourism (INR 1.90 cr) and Champions Boat League (INR 9.96 cr).
Detailing about the INR 1300 crore worth projects that were inaugurated, PM Modi, said that these projects related with education, health and tourism will give a new push to the development of Goa. Notably, the laying of the foundation stone for a Passenger Ropeway linking Panaji and Reis Magos, alongside complementary tourism ventures, were also given a green flag.
An additional allocation of INR 14 crore has been made for Muziris Heritage Project and INR 2 crore for Thenmala Eco-Tourism Project. The budget also made a provision of INR 20 crore for 24 guest houses, four Yatri Nivases and two Kerala Houses. The budget has also proposed mini Marinas and Yacht hubs comprising Tourism Facilitation Centres including resting centres, restaurants, motels and places for minor entertainment activities in 4 tourist destinations, namely Alappuzha, Beypore, Kochi and Kollam.
