Jharkhand to focus on tourism, announces incentive for investors

RANCHI: On Tuesday, January 11, the Government of Jharkhand proposed a plethora of fiscal incentives, to improve the tourism sector, for individuals wanting to engage in creating tourism facilities, such as 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-visit destination” by leveraging the state’s untapped potential. “All fiscal incentives must go through the Department of Industries’ Single Window System,” read the public statement in regards to developing the tourism sector in Jharkhand. 

Hotels, resorts, amusement parks and ropeways with a minimum investment of Rs 10 crore are eligible for incentives, according to the statement. In addition, roadside amenities with a minimum investment of Rs 2 crore and water sports facilities with a minimum investment of Rs 1 crore qualify for incentives.

Cruise ships and houseboats with a minimum investment of Rs 1 crore, as well as camping sites and adventure sports facilities with a minimum investment of Rs 50 lakh, are eligible for the incentives. The incentives are also available for aerial sports facilities with a minimum investment of Rs 50 lakh, sound and light shows and laser shows with a minimum investment of Rs 25 lakh, and rural tourism sites with a minimum investment of Rs 25 lakh.

According to the policy, capital incentives of up to Rs 10 crore will be offered, with 50 per cent paid at the time of commission and the remainder paid at the conclusion of the first year of operations. However, no information was provided about how much will be paid in each category.

Subsidies for captive power generation and electricity duty-related incentives are among the other benefits. Scheduled caste and scheduled tribe entrepreneurs, women entrepreneurs, disabled people, and ex-servicemen will receive an additional 5 per cent bonus up to Rs 5 lakh.

The proposal stated that building up units in scheduled areas outside of metropolitan centres would receive an additional 5 per cent incentive. Any project that begins commercial operations, following the implementation of the Jharkhand Tourism Policy 2021, is entitled to apply for the rewards.