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Union Budget 2025: FM Nirmala Sitharaman focuses on tourism with visa waiver and mudra loans
- Finance Minister Nirmala announced in the Union Budget 2025 that visa waivers will be granted for specific foreign tourist groups and mudra loans will be available for homestays, enhancing travel and connectivity to tourist spots.
The Finance Minister Nirmala, while presenting the Union Budget 2025, announced visa waivers for certain foreign tourist groups. In her budget speech, FM Sitharama said, “The government will also introduce streamlined e-visa facilities and visa fee waivers for select tourist groups to attract international visitors.”
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Reaffirming the focus on spiritual and heritage tourism set in the Budget last July, Sitharaman also highlighted the special initiatives for sites associated with Gautama Buddha's life.
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The Finance Minister added that the government will also provide mudra loans to homestays, and ." She emphasised tourism as a driver of employment-led growth and unveiled a series of initiatives aimed at bolstering infrastructure, skill development,improving ease of travel and connectivity to tourist destinations.
What did Sitharaman say on Tourism for employment-led growth?
Sitharaman said that the top 50 tourist destinations in the country will be developed in partnership with states in a "challenge mode", emphasising tourism as a driver of employment-led growth. She also unveiled a series of initiatives aimed at bolstering infrastructure, skill development and ease of travel.
Presenting her eighth straight Union Budget, Sitharaman said the government will promote homestays by extending Mudra loans and improve connectivity to tourist spots to enhance accessibility.
"The state governments will be responsible for providing land to build essential infrastructure. To further boost tourism, hotels in the key destinations will be included in the harmonised infrastructure list, ensuring better access to financing and development support," she said.
While outlining the broader roadmap, Sitharaman said, "We will facilitate employment-led growth by organising intensive skill development programmes for our youth, including institutes of hospitality management." Medical tourism, under the 'Heal in India' initiative, will also receive a boost through public-private partnerships, capacity building, and relaxed visa norms.
The finance minister, during her Union Budget 2025 speech, also announced that no income tax will be payable on income up to ₹12 lakh, providing significant relief to taxpayers, especially the middle class.
(With inputs from agencies)
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Business NewsNewsUnion Budget 2025: FM Nirmala Sitharaman focuses on tourism with visa waiver and mudra loans
First Published:1 Feb 2025, 12:10 PM IST
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