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Business News/ News / India/  Jharkhand: Fiscal incentives announced for investing upto Rs10 cr in tourism

RANCHI : The Jharkhand government has recently-unveiled state tourism policy, where they announced a slew of fiscal incentives for those willing to invest in developing tourism facilities in the state. 

The state government intends to tap the unexplored potential of the state and make Jharkhand a "must-visit destination".

"Fiscal incentives are to be provided for the promotion of tourism in Jharkhand... To provide incentives for increasing the competitive attraction of Jharkhand as compared to other states... All the fiscal incentives shall be routed through the Single Window System of Department of Industries," the policy mentioned.

The investment projects include hotels and resorts, amusement parks, ropeways and adventure sports to boost the tourism sector in the state. 

The minimum investment for hotels, resorts, amusement parks and ropeways was capped at 10 crore. 

“Those eligible for incentives are hotels, resorts, amusement parks and ropeways set up with a minimum investment of 10 crore," the statement said.

Those who invest in wayside amenities built with a minimum investment of 2 crore and water sports facilities set up with a minimum investment of 1 crore are also eligible for incentives.

Cruise ships and houseboats with a minimum investment of 1 crore, and camping sites and adventure sports facilities set up with a minimum investment of 50 lakh are eligible for the incentives.

Among others, aero sports facilities set up with a minimum investment of 50 lakh, sound and light show and laser show with a minimum investment of 25 lakh, and rural tourism sites set up with a minimum investment of 25 lakh are also eligible for the incentives.

The Hemant Soren government has also engaged National Geographic to produce documentaries on Jharkhand to promote tourism.

Jharkhand, carved out of the southern part of Bihar in 2000, has a number of forests, including the Palamu Tiger Reserve, waterfalls, hills and temples.

What are the incentives?

-The policy said capital incentives up to 10 crore will be provided and 50% of it will be paid at the time of commission and the rest at the end of the first year of operations. 

However, the details regarding how much would be paid in which category were not mentioned.

-Other benefits include subsidy for captive power generation, SGST related incentives and electricity duty related incentives.

-An additional 5% incentive up to 5 lakh will be provided to SC and ST entrepreneurs, women entrepreneurs, disabled persons and ex-servicemen.

-An additional incentive of 5% would be provided for setting up units in Scheduled Areas outside the urban hubs, the policy said.

-Any project that starts commercial operations after Jharkhand Tourism Policy 2021 came into force would be eligible to apply for the benefits.

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Updated: 09 Jan 2022, 06:47 PM IST
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