Jharkhand announced incentives of up to Rs 10 crore for tourism investment

Jharkhand announced incentives of up to Rs 10 crore for tourism investment

The Jharkhand government announced a slew of fiscal incentives for those willing to invest in developing tourism facilities, including hotels and resorts, amusement parks, ropeways, and adventure sports, to give a boost to the sector and attract tourists to the state. The incentives were announced in the recently-unveiled state tourism policy, which aims to make Jharkhand a ”must-visit destination” by tapping its unexplored potential.

To improve the tourism sector and attract tourists to the state, the Jharkhand government proposed a plethora of fiscal incentives for individuals wanting to engage in creating tourism facilities, like hotels and resorts, amusement parks, ropeways, and adventure sports. The incentives were mentioned in the state’s recently released tourism policy, which intends to turn Jharkhand into a must-see destination by utilizing the state’s untapped potential. For the promotion of tourism in Jharkhand, financial incentives would be provided…

”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 the Department of Industries,” the policy mentioned. Those eligible for incentives are hotels, resorts, amusement parks, and ropeways set up with a minimum investment of Rs 10 crore, it said. Besides, wayside amenities built with a minimum investment of Rs 2 crore and water sports facilities set up with a minimum investment of Rs 1 crore are also eligible for incentives. Cruise ships and houseboats with a minimum investment of Rs 1 crore, and camping sites and adventure sports facilities set up with a minimum investment of Rs 50 lakh are eligible for the incentives.

Among others, aero sports facilities are set up with a minimum investment of Rs 50 lakh, sound and light show and laser show with a minimum investment of Rs 25 lakh, and rural tourism sites set up with a minimum investment of Rs 25 lakh are also eligible for the incentives. The policy said capital incentives up to Rs 10 crore will be provided and 50 percent 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 subsidies for captive power generation, SGST related incentives, and electricity-duty-related incentives. An additional 5 percent incentive up to Rs 5 lakh will be provided to SC and ST entrepreneurs, women entrepreneurs, disabled persons, and ex-servicemen.

An additional incentive of 5 percent 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. The Hemant Soren government has also engaged National Geographic to produce documentaries on Jharkhand, in a bid to promote tourism. Jharkhand carved out of the southern part of Bihar in 2000, shares its border with Bihar, Uttar Pradesh, Chhattisgarh, Odisha, and West Bengal. It has a number of forests, including the Palamu Tiger Reserve, waterfalls, hills, and temples.

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