Govt tweaks tourism policy to attract investments

Patna: The state govt has tweaked the Bihar Tourism Policy, 2023 to attract investments in the hotel and hospitality sector and boost tourism. While talking to reporters at a press conference here on Friday, tourism minister Raju Kumar Singh said as per the amendment introduced in the tourism policy on March 21, the govt has reduced the investment limit from Rs 10 crore to Rs 5 crore in "star-rated" hotels in the state. This change allows investors to set up three-star and two-star hotels to avail of the benefits of the tourism policy, he said. According to the tourism policy 2023, earlier investors willing to avail of the benefits of the policy had to set up four-star rated hotels in the state with a minimum investment of Rs 10 crore. Singh added that after discussions with stakeholders, the govt brought changes in the policy to attract more investment in other tourist destinations of the state.However, the mandatory criteria of making a minimum investment of Rs 10 crore in "four-star" rated hotels/resorts/heritage hotels in major tourist destinations like Patna, Gaya, Bodh Gaya, Nalanda, Rajgir, Muzaffarpur and Bhagalpur will remain in place to avail of a 25% capital subsidy, said Singh. He added that besides the seven tourist destinations, Valmikinagar Tiger Reserve (VTR) will also receive an additional 5% capital subsidy.As per the amendment, investors can now set up "three-star" hotels with a minimum investment of Rs 7.5 crore in district headquarters towns, while "two-star" hotels with a minimum investment of Rs 5 crore can be established in other towns of subdivisions and blocks of the state to reap the benefits of the policy.The policy earlier envisaged the setting up of only "four-star" rated hotels across the state to avail of the benefits, but now it has introduced "three and two-star" rated hotels with minimum investments of Rs 7.5 crore and Rs 5 crore, respectively."The govt is also working on developing circuits like Ramayan, Buddhist, Sufi and others," he said. He further added that 50.50 acres of land at Punauradham in Sitamarhi, the birthplace of Sita, has been acquired at an expenditure of Rs 120.58 crore for constructing various tourist amenities.On this occasion secretary Lokesh Kumar Singh said the govt has now extended the period of SGST reimbursement for up to seven years.To promote job opportunities for the people of the state, the govt will contribute 100% or Rs 3,000 per month, whichever is less, towards ESI and EPF if the hotels, resorts, or heritage hotels employ people from the state.Patna: The state govt has tweaked the Bihar Tourism Policy, 2023 to attract investments in the hotel and hospitality sector and boost tourism. While talking to reporters at a press conference here on Friday, tourism minister Raju Kumar Singh said as per the amendment introduced in the tourism policy on March 21, the govt has reduced the investment limit from Rs 10 crore to Rs 5 crore in "star-rated" hotels in the state. This change allows investors to set up three-star and two-star hotels to avail of the benefits of the tourism policy, he said. According to the tourism policy 2023, earlier investors willing to avail of the benefits of the policy had to set up four-star rated hotels in the state with a minimum investment of Rs 10 crore. Singh added that after discussions with stakeholders, the govt brought changes in the policy to attract more investment in other tourist destinations of the state.However, the mandatory criteria of making a minimum investment of Rs 10 crore in "four-star" rated hotels/resorts/heritage hotels in major tourist destinations like Patna, Gaya, Bodh Gaya, Nalanda, Rajgir, Muzaffarpur and Bhagalpur will remain in place to avail of a 25% capital subsidy, said Singh. He added that besides the seven tourist destinations, Valmikinagar Tiger Reserve (VTR) will also receive an additional 5% capital subsidy.As per the amendment, investors can now set up "three-star" hotels with a minimum investment of Rs 7.5 crore in district headquarters towns, while "two-star" hotels with a minimum investment of Rs 5 crore can be established in other towns of subdivisions and blocks of the state to reap the benefits of the policy.The policy earlier envisaged the setting up of only "four-star" rated hotels across the state to avail of the benefits, but now it has introduced "three and two-star" rated hotels with minimum investments of Rs 7.5 crore and Rs 5 crore, respectively."The govt is also working on developing circuits like Ramayan, Buddhist, Sufi and others," he said. He further added that 50.50 acres of land at Punauradham in Sitamarhi, the birthplace of Sita, has been acquired at an expenditure of Rs 120.58 crore for constructing various tourist amenities.On this occasion secretary Lokesh Kumar Singh said the govt has now extended the period of SGST reimbursement for up to seven years.To promote job opportunities for the people of the state, the govt will contribute 100% or Rs 3,000 per month, whichever is less, towards ESI and EPF if the hotels, resorts, or heritage hotels employ people from the state.

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