Karnataka disclose new tourism policy, aims to invest Rs 5000 cr in 5 years

September 28, 2020

The policy was launched by Chief Minister BS Yediyurappa and Tourism Minister C T Ravi on Sunday.
On ‘World Tourism Day’, Karnataka unveiled a new tourism policy aiming to create 10 lakh jobs and attract Rs 5,000 crore investments in the sector by 2025.
“Our aim is to increase the contribution of tourism to 20 per cent from 15 per cent of the gross state domestic product (GSDP) and attract more domestic and overseas tourists across the state, which has more to offer than rich flora and fauna,” said Chief Minister BS. Yediyurappa on Sunday.
The Tourism policy encourages greater participation of the local community in tourism activities to create inclusive socio-cultural growth and generate economic benefits for the people of Karnataka, a press release by the state government said.
Tourism development fund has been established under Karnataka Tourism Infrastructure Ltd (KTIL) as a strategic intervention for the development of land bank under Department of Tourism, it said.

Karnataka plans to promote the state in domestic and international markets and leverage the brand of “One State, Many Worlds”.
An investment facilitation cell shall be set up under the Department of Tourism to act as the nodal agency for enabling, facilitating and monitoring investments, it added.

The incentives under the policy include financial assistance of up to Rs 1 lakh for tourism projects undertaking sustainability measures such as water conservation and harvesting, adopting renewable energy sources, and adopting pollution control measures.
The policy also provides for capital investment subsidy and interest subsidy with certain specifications. It also provides for concessions like exemption on stamp duty, concessions on registration charges, reimbursement of land conversion charges, exemption on motor vehicle tax, complimentary infrastructure assistance among other benefits. The policy also mentioned the Sustainable Development Goals set by the United Nations.