Government Reveals Budget Utilization for Tourism Over Four Years
The Union Minister for Tourism and Culture, Shri Gajendra Singh Shekhawat, recently provided a detailed report on budget allocation and expenditure for the tourism sector during the last three financial years and the current year. The report, delivered in a written response to the Lok Sabha, highlights the effectiveness of budget utilization in the industry.
Financial Overview of Tourism Budget
According to the data presented, the tourism budget for the financial years 2022-23 to 2025-26 underwent various adjustments and actual expenditures that indicate a fluctuating trend in utilization. Specifically, for the financial year 2022-23, the initial budget estimate was set at ₹2,400 crores. However, the revised estimates showed a decrease to ₹1,343.13 crores, with actual expenditure recorded at ₹681.71 crores, resulting in a utilization percentage of 50.75%.
Recent Budget Estimates and Actual Spending
For the financial year 2023-24, the Union government again allocated ₹2,400 crores, raising the revised estimates to ₹1,692.10 crores. The actual expenditure as of the report date was ₹801.82 crores, leading to a utilization percentage of approximately 47.39%. This trend indicates a steady but unsatisfactory usage of resources in relation to revised estimates.
Projected Budget for Upcoming Fiscal Year
Looking ahead, the budget for the fiscal year 2024-25 has been estimated at ₹2,479.62 crores, with revised estimates showing ₹850.36 crores. However, only ₹164.07 crores has been utilized so far, reflecting a mere 19.29% of utilization. This shows a significant drop in actual expenditure compared to both previous years and the budget estimates.
Future Financial Allocations and Utilization
Furthermore, for the financial year 2025-26, the allocated budget stands at ₹2,541.06 crores. As per the revised estimates, ₹1,310.30 crores is projected to be allocated. Current actual expenditure figures are yet to be finalized, but preliminary estimates suggest utilization could reach ₹784.15 crores, amounting to a utilization rate of 59.85%. This figure indicates a potential increase in expenditure efficiency compared to earlier years.
The data underscores the varying levels of budget utilization within the tourism sector, reflecting the challenges in spending allocated resources effectively. The overall picture suggests that while the government continues to allocate substantial funds to tourism, actual expenditure remains inconsistent.
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