hometravel Newsdestinations NewsBudget 2024: FM Sitharaman announces special focus on infrastructure development in Lakshadweep

Budget 2024: FM Sitharaman announces special focus on infrastructure development in Lakshadweep

Following the controvery between Maldives and India, Finance Minister Nirmala Sitharaman, in the interim Budget presentation said that states will be provided with funds to develop tourist attractions.

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By CNBCTV18.COMFeb 1, 2024 3:17:22 PM IST (Updated)

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Budget 2024: FM Sitharaman announces special focus on infrastructure development in Lakshadweep
Finance Minister Nirmala Sitharaman in her Interim Budget 2024 on Thursday said that there will be a special focus on developing infrastructure in Lakshadweep to boost tourism. She announced the provision of long-term interest-free loans to state governments for developing iconic tourist destinations.

Sitharaman said that projects targeting port connectivity, tourism infrastructure, and amenities on islands, including Lakshadweep, will gain focus to address the growing interest in domestic tourism, fostering employment opportunities.
Prime Minister Narendra Modi visited the scenic shores of Lakshadweep in January 2024, following which controversy erupted on social media after three Maldivian deputy ministers mocked PM Modi's post. Soon, a diplomatic rift ensued between the two countries, leading to Indian holidaymakers ditching Maldives to visit India and other foreign destinations. Recently, Maldives released a list of its top travellers, wherein India had fallen to the fifth spot from third.
During his visit to Lakshadweep on January 1, Prime Minister Narendra Modi said that numerous developmental projects were completed in Lakshadweep over the past 10 years and the Centre is committed to the progress of the islands located off the coast of Kerala.
In her Budget 2024 speech, Sitharaman also said that 40,000 normal rail bogies will be converted to Vande Bharat standards for the convenience of passengers. Under the ambitious Udan scheme, she said that 517 new routes were introduced. She said that Indian carriers had proactively ordered 1,000 new aircraft and added that the expansion of existing airports would continue.
Meanwhile, Pradeep Shetty, President of The Federation of Hotel snd  Restaurant Associations of India said, "Enhancing infrastructure aligns with a mission to exceed evolving traveller expectations, making Lakshadweep a premier destination for discerning travellers. This visionary approach transforms the islands into a magnet for tourists, creating new opportunities and propelling the hospitality sector into an era of unparalleled growth within India's dynamic tourism and hospitality landscape.

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