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Updated January 22nd, 2024 at 11:11 IST

Ram Mandir to give big boost to Uttar Pradesh tourism

With the completion of the Ram Mandir and multiple tourism-promoting initiatives, UP is expected to witness a substantial influx of visitors.

Reported by: Business Desk
Ram Mandir
Ram Mandir | Image:X@ShriRamTeerth
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Ram Mandir inauguration: Uttar Pradesh (UP), the most populous state of the country, is set for an economic upswing, fuelled by a surge in tourism and strategic initiatives, including the completion of the Ram Mandir in Ayodhya, SBI Research said in a report titled “Where Latin America meets Scandinavia: The Road to Salvation passes through Uttar Pradesh “.

The confluence of the Central Government's Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive (PRASHAD) scheme, aimed at pilgrimage rejuvenation and spiritual heritage augmentation, along with proactive measures by the UP government, is shaping the state as the face of the new India, SBI Research noted.

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With the completion of the Ram Mandir and multiple tourism-promoting initiatives, UP is expected to witness a substantial influx of visitors. The holistic approach to tourism development, coupled with infrastructure enhancements, could result in an additional tax revenue of up to Rs 25,000 crore per annum in the fiscal year 2025, SBI Research said.

Image credit: Republic

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Uttar Pradesh, often compared to Brazil in terms of population, has been making notable strides in various sectors. Accounting for more than 10% of India's Gross Value Added (GVA), the state's increasing share in services, industry, and agriculture positions it as a key player in the country's economic landscape, research arm of the country’s largest lender said.

The state's visible strides in export growth, capital market participation, and financial inclusion have contributed to its economic vibrancy. UP's investment in innovations, as evidenced by the surge in patents filing, showcases its commitment to becoming a knowledge economy.

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Despite being the most populous state, UP has demonstrated commendable performance in areas such as crimes against women per lakh population and conviction rates. Additionally, the state has witnessed a decline in youth unemployment, indicating positive economic indicators.

The completion of the Ram Mandir in Ayodhya, a significant spiritual and cultural landmark, is expected to be a game-changer for UP's tourism industry. With an estimated 32 crore domestic tourists visiting the state in 2022, UP's total expenditure by tourists may surpass Rs 4 lakh crore by the end of 2025. The opening of the Ram Mandir is anticipated to play a pivotal role in attracting tourists, potentially leading to an additional tax revenue windfall for the government, SBI Research added.

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The state's focus on tourism, infrastructure development, and cultural heritage preservation aligns with the broader vision of a prosperous and inclusive new India. The completion of the Ram Mandir is expected to be a beacon, attracting tourists and adding impetus to UP's economic growth story, SBI Research said.

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Published January 22nd, 2024 at 11:11 IST

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