Maharashtra Tourism Policy 2024: A Comprehensive Overview

The Maharashtra Tourism Policy 2024 is a forward-looking initiative designed to transform Maharashtra into a leading global tourism destination. Launched with a vision to boost the state’s economy, the policy focuses on driving investments, creating jobs, and promoting sustainable tourism development. Here’s an in-depth look at the key aspects of the policy:

Key Objectives:
1. Boosting Investments: The policy aims to attract investments worth ₹1 lakh crore by 2030, with a focus on enhancing tourism infrastructure, especially in less-explored areas.
2. Job Creation: It is projected to generate around 18 lakh new jobs in the tourism and hospitality sectors.
3. Tourism Hubs: Maharashtra plans to develop 50 tourism hubs categorized into A, B, and C tiers to boost local and international tourism.

Major Incentives:
1) Capital Subsidies: Eligible tourism projects can receive up to ₹20 crore or 20% of their capital investment, while food courts, malls, and theaters may get a subsidy of up to ₹15 crore.
2) SGST Reimbursements: To reduce operational costs, the policy offers SGST reimbursements for tourism operators.
3) Electricity Duty Exemption: Tourism projects will benefit from reduced electricity tariffs and duty exemptions.
4) Loan Subsidies: Interest subventions of up to 5% are available to tourism operators to ease financial burdens.
5) Additional FSI (Floor Space Index): Relaxed FSI norms are provided to encourage the construction of new tourism facilities, particularly in underdeveloped areas.

Focus Areas:
1) Workcation: The policy introduces incentives to promote work-from-anywhere tourism, encouraging remote workers to explore Maharashtra while contributing to the local economy.
2) Coastal & River Tourism: There are plans to develop cruise tourism on major rivers like Godavari and Narmada, and around reservoirs in Konkan, Nashik, and Pune.
3) Sustainable Tourism: Emphasis on eco-friendly practices and the creation of the ‘Tourism Mitra Dal’ to ensure safe and regulated tourist activities.

How Growbiz Services Can Assist You:
Navigating the complexities of government policies and securing subsidies can be challenging. Growbiz Services offers expert consulting to help you maximize benefits from the Maharashtra Tourism Policy 2024. Our team can assist with everything from subsidy applications, documentation, compliance, and capital investment planning. Let us help you transform your tourism project into a profitable venture while benefiting from government incentives.

For more information, reach out to us and leverage our experience in subsidy consulting to take advantage of these new opportunities.