New Tourism Policy | 28 Dec 2023

Why in News?

Recently, the Bihar cabinet approved the Bihar Tourism Policy 2023 to attract more investment in the tourism sector.

Key points

• The policy aims to develop fundamental infrastructure near tourist destinations in the state and also includes provisions for stakeholders.
• The new policy contains several financial incentives for investors. These include:
  • Capital subsidy of 30% for investments up to Rs 10 crore.
  • 25% for investments up to Rs 50 crore.
  • 25% for investments exceeding Rs 50 crore,with a maximum limit of Rs 25 crore.
  • 100% reimbursement of land conversion fee, stamp duty and registration fee.
  • 80% reimbursement of Goods and Services Tax (GST) on commercial operation for up to 5 years.
  • 100% reimbursement of electricity tariff for new tourism units for 5 years.
  • Hoteliers and tour operators will get a 5% reimbursement of the monthly remuneration paid to tourist guides.The maximum monthly limit for this will be Rs 5000 per guide for up to 2 years.
  • incentives for green certification, MICE (meetings, incentives, conferences, and exhibitions) promotions, are also included in the policy.
• 50% of the subsidy will be paid at the commencement of commercial operation, 25% after 2 years, and 25% after 5 years.
• A sum of Rs 62 crore is also sanctioned for the construction of an alternative approach path with sheds and a bus depot near Vishnupad Temple in Gaya.