Indian Budget 2006-07- Full Text
Full Text of P. Chidambaram, Minister of Finance, Budget Speech(Feb 28, 2006)
VIII SERVICES SECTOR
70. Foreign tourist arrivals increased to 3.92 million in 2005. It is still a fraction of India’s potential. During 2006-07, Ministry of Tourism will:
• Take up for development 15 tourist destinations and circuits following an integrated area development approach;
• Identify 50 villages with core competency in handicrafts, handlooms and culture, close to existing destinations and circuits, and develop them for enhancing tourists’ experience; and
• Establish 4 new institutes of hotel management in the States of Chhattisgarh, Haryana, Jharkhand and Uttaranchal.
I propose to increase the Plan allocation from Rs.786 crore to Rs.830 crore in 2006-07.
71. Merchandise exports are growing at the rate of over 18 per cent in the current year. Imports are high, but they are welcome because they are a sign of enhanced capital investment and industrial activity. Ministry of Commerce and Industry and Ministry of Finance have worked together to create an environment that is supportive of our exporters, and we are determined to double our share in world exports to 1.5 per cent by the year 2008-09.