Economic & Finance Forum of Vidarbha Industries Association organized an interactive session on Incentive in Tourism Sector (As per Tourism Policy of Maharashtra – 2024) today, 9th October, 2024 at VIA Auditorium, Nagpur.
Prashant Sawai, Deputy Director of Directorate of Tourism, GoM, Nagpur shared an overview on Tourism Policy of Maharashtra – 2024.
CA Prakalp Sarda said that Tourism Policy of Maharashtra – 2024 is a comprehensive initiative aimed at boosting the tourism sector in the state. This policy introduces a range of incentives and benefits to encourage investment and development in various tourism projects. The policy comes into effect on July 18, 2024 and remains valid for 10 years or until amended.
He said that as per recent analysis by the Ministry, they placed Maharashtra as an “Emerging Tourism” state satisfying 19 of 36 parameters. Hence, to further boost tourism in Maharashtra and promote Maharashtra as a “Leading Tourism State” the government has formulated Maharashtra Tourism Policy, 2024 with added fiscal and non-fiscal incentives as compared to MTP 2016.
The objective of the policy is to bring Fresh Private Investment into the Tourism Sector of nearly 1 lakh Cr in next 10 Years with fresh jobs of Around 18 lakh.
One of the Major Benefits under the policy is Capital Subsidy which ranges from 15% to 25% of Eligible Capital Investment. Some other Subsidies are Stamp Duty Exemption, GST Reimbursement, Electricity Duty Exemption, Refund of Electricity Tariff and Interest Subvention of 5% which are included in the Policy. Further to Promote Towards Green Energy, policy is providing 25% benefits of cost incurred on Solar, ETP Plant, Pollution control Devices etc. Additionally Development Charges, NA Tax and NA permit charges are being Waived off.
Sectors like agro tourism, rural tourism, amusement park, wayside amenities, 7D-VR game zone , convention and MICE centre including tour operators are also eligible for tax rebate
He also explained about eligibility criteria for Tourism Units and Zonal Classification of Maharashtra. He further informed about the investment to be required for setting of Tourism Units for Micro, Small, Medium Enterprises and Large Units as well as providing direct jobs .
Earlier, CA Naresh Jakhotia gave memento and bouquet to Prashant Sawai and the speaker. He also gave a welcome address and highlighted key points of the Tourism Sector.
Darpan Sharma, Project Coordinator made the opening remarks and introduced the speakers. CA Sachin Jajodia summed up the session and proposed a formal vote of thanks.
Program was attended by members of the association, industrialists, Tourism Sector such as Ashok Ramani, Kshitiz Agrawal, Anil Kedia, Dr Kirti Sirothia & others.
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