Budget 2024: Travel Stocks Rise As FM Announces Measures To Boost Tourism In Odisha & Bihar

New Delhi/Bhubaneswar: Union Finance Minister Nirmala Sitharaman on Tuesday said that the Centre is committed to developing Odisha into an ultimate tourism destination in the country.

She said that support will be provided for the development of  temples, scenic beauty, natural landscapes, and pristine beaches in the state.

“Odisha’s scenic beauty, temples, monuments, craftsmanship, wildlife sanctuary, natural landscapes and pristine beaches make it an ultimate tourism destination. Our government will provide assistance for their development to Odisha as well,” she said while presenting Budget for the fiscal year 2024-25.

Sitharaman said that tourism has been part of India’s civilisation. “Our efforts in positioning India as a global tourist destination will also create jobs, stimulate investments and unlock economic opportunities in other sectors,” she said.

Stating that Vishnupath temple at Gaya, and Mahabodhi temple in Bodhgaya are of immense spiritual importance, she said that these will be modelled on the successful Kashi Vishwanath corridor to transform them into world-class pilgrim and tourist destinations,” she said.

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The FM further informed about a comprehensive development initiative for preserving hot springs in Rajgir which holds religious significance for Hindus, Buddhists and Jains. “Our government will support the development of Nalanda as a tourist centre besides reviving Nalanda University to its glorious stature,” she added.

Following the announcement, travel and tourism stocks such as Yatra Online, Easy Trip Planners (Ease My Trip), EIH, Thomas Cook, Praveg gained up to 4 per cent, the Money Control reported.

The travel and tourism market in India is set to generate a revenue of $23.72 billion in 2024, with a projected annual growth rate of 9.6 percent over the next four years, according to a report by the India Brand Equity Foundation (IBEF).

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