Maharashtra Unveils Tourism Policy 2024 – Focus on Investments, Job Creation & Agro Tourism
Darpan Sharma
Director – NJ Analysts Pvt Ltd
(Project Finance, Subsidy & RERA Consultants)
The Maharashtra government’s 2024 tourism policy aims to boost travel and trade in the state. Specifically, the introduction of Cash Subsidy is a welcome step which was missing in the earlier tourism policy of 2016 and it will definitely play a pivotal role in widespread adoption and implementation of the policy.
Let us have a brief overview:
- Investment: The policy aims to attract ₹100,000 crore in investments.
- Jobs: The policy aims to create 1.8 million jobs in the private sector.
- Infrastructure: The policy focuses on developing infrastructure.
- Partnerships: The policy aims to partner with stakeholders like tour operators and MICE organizers.
- Workcation: The policy promotes the concept of “workcation”, which is a combination of work and vacation.
- Niche tourism: The policy focuses on niche tourism segments like eco-tourism, rural tourism, and agro-tourism.
- Cruise tourism: The policy promotes cruise tourism, including luxury river cruises on the Sardar Sarovar and budget cruises on the Vashisti River.
- MMR: The policy aims to transform the Mumbai Metropolitan Region (MMR) into a global tourism hub.
- Financial incentives: The policy offers financial incentives and awards, including capital investment, interest subsidies, and more.
Directorate of Tourism, the flagship body of Maharashtra Tourism, looks after introducing and implementing various tourism schemes, promotions and publicity to boost tourism in the State. Since the inception of the Directorate of Tourism, Government of Maharashtra, the State has attained several milestones and bagged numerous accomplishments with the help of various initiatives.
The Maharashtra Tourism Policy 2024 highlights Agro Tourism as a key growth area and offers a variety of incentives to promote its development. The policy provides both financial and non-financial benefits aimed at fostering sustainable tourism and rural growth.
Key Incentives for Agro Tourism Units:
A. Financial Incentives:
1. Capital Investment Incentive: Agro tourism units can receive a 15% incentive on eligible capital investments, up to a maximum of INR 15 crore.
2. Interest Subvention: Depending on the zone, agro tourism units are eligible for interest subventions on loans, with specific terms for eligibility periods and interest ceilings.
3. Stamp Duty and Registration Exemption: Exemptions are provided on stamp duty and registration charges for land purchases or leases for agro tourism operations.
4. SGST Reimbursement: Units may be eligible for reimbursement of a portion of the State Goods and Services Tax (SGST) paid, based on their zone.
B. Non-Financial Incentives:
1. Agri-Business Recognition: Agro tourism units are recognized as agri-businesses, allowing them to access various benefits and support programs available to agricultural enterprises.
2. Simplified Licensing: A 10-year license reduces administrative complexities, providing long-term operational ease and stability.
3. Permission to Sell Farm Produce and Local Products: Agro tourism businesses can sell their agricultural produce, local products, and handicrafts directly to visitors.
4. Domestic Electricity Rates for Homestays: Agro tourism homestays qualify for domestic electricity rates, lowering operational costs.
5. Flexible Accommodation Options: The policy supports a range of accommodation types such as tents, pods, mobile homes, tree houses, tribal huts, eco-friendly houses, and scaffolding structures.
6. Exemption from Non-Agricultural License: Farmers do not need to obtain a separate non-agricultural license to operate their agro tourism businesses.
These incentives create a unique opportunity for entrepreneurs and farmers to expand their agro tourism ventures and benefit from government support.
Author can be reached at ssrpnfinance@gmail.com (Mob No. 9960258418)
