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State's new tourism policy offers subsidies galore

  •   Sat, Jul 18 2015 09:13:12 AM

Bengaluru, Jul 18 (IANS): The newly-released Karnataka Tourism Policy 2015-2020 announces a galore of generous concessions and subsidies for eligible entities willing to develop tourism projects in the state.

These concessions encompass rebates, exemption of applicable taxes, charges, duties and others and can be availed by eligible entities based on the geographical pre-defined categories into which they propose to develop tourism projects as outlined in the policy.

The policy defines geographical regions are Focus Tourism Destinations (FTD), Hyderabad Karnataka Region (HKR) and regions of the state categorized into not backward, backward, more backward and most backward places.

FTDs are 40 places identified across the state for tourism development under urban tourism, heritage tourism, nature tourism (Western Ghats), wildlife tourism, wellness tourism, religious tourism and coastal tourism, while Afzalpur, Aland, Chincholi, Chittapura, Kalaburgi, Jevargi and Sedam of Kalaburgi district and Shahpura, Surpura and Yadgir of Yadgir district constitute the HKR.

The policy offers 100 percent exemption on stamp duty and 100 percent reimbursement of land conversion fee for developing tourism projects in FTDs, HKR, most backward and more backward regions.

Investments in tourism projects have been categorized into mega projects for projects valued between Rs.100 crore and Rs.500 crore, ultra mega projects for projects valued between Rs.500 crore and Rs.1,000 crore and super mega projects for projects valued above Rs.1,000 crore.

As per the new policy, mega projects are eligible for 100 percent entry tax exemption on plant and machinery and capital goods for a period of five years from the date of commencement of project implementation.

Entertainment parks classified as ultra mega projects and super mega projects are eligible for reimbursement of entertainment tax for the first five years.

Tour operators and tourism project proponents in Karnataka will be exempt from paying motor vehicle tax for a maximum of five vehicles bought for tourism-related activities.

 
  

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Comment on this article

  • Aubb, Kuwait

    Sat, Jul 18 2015


    Karnataka is late comer when it comes tourism.

    No vision , in spite of great potential, as we lack tourism culture, from common man to top bureaucrats.

    CM is only busy with launching incentives for tourism industry, while the ground reality is we portray a poor image of our beloved state to the outside world.

    High time to appoint tourism experts from private sector, and a separate dynamic tourism ministry and officials.

    DisAgree Agree [5] Reply Report Abuse

  • Jacob Mendonsa, Bangalore

    Sat, Jul 18 2015

    Dear CM & Tourism minister,

    Many Tourist r not concerned about the tax exemptions. What they r looking forward is basic amenities like clean toilets etc. near tourist spots. Visit Nandi Hills in Bangalore, & U will find there is no proper toilets at all. Go to Brindavan garden in Mysore, 50-60 ladies wait on Q to use two dirty toilets. Our Ghat roads , highways & roads r in pathetic conditions. Improve the transport facilities for the smoot travel of Tourists. Why Mr. Despond should hold two ministries, when he is extremely busy in handling higher education ministry. Tourism ministry should be exclusively given to other MLAs so that he can concentrate on tourists needs.

    DisAgree Agree [5] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sat, Jul 18 2015

    We should ask Bachhan to endorse Karnataka too ..

    DisAgree [2] Agree [1] Reply Report Abuse

  • Kusuma Kumari Chitti G , Nellore/Kodyadka

    Sat, Jul 18 2015

    A good moove by the goverment Keralas revenue in foreign exchnage in tourism last year was 6000 crores. We must encourage tourism industry in Kerala and make it a better place in terms of tourism A very good suggestion and move from the goverment. Karnataka has good tourist potentil especially in eco tourism etc

    DisAgree Agree [1] Reply Report Abuse


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