Jharkhand government announces monetary incentives for those willing to invest in developing tourism facilities

Tuesday, January 11, 2022

The Jharkhand government announced a slew of monetary incentives for those willing to invest in developing tourism facilities, including hotels and resorts, amusement parks, ropeways and adventure sports, for boosting tourism 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 discovering itsunmappedtourism potential.

“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 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.

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 qualifiedfor these incentives.

Cruise ships and houseboats with a minimum investment of Rs. 1 crore, and camping sites and adventure sports facilities built with a minimum investment of Rs. 50 lakh are also eligible for the incentives. Aero sports facilities 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 entitled for the incentives.

Other benefits include subsidy for captive power generation, SGST related incentives and electricity duty related incentives.

A further 5 per cent incentive up to Rs. 5 lakh will be provided to SC and ST entrepreneurs, women entrepreneurs, disabled people and ex-servicemen.

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