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Favourable Policy reforms supported high growth in Service sector including Tourism: Economic Survey 2017-18

Monday, January 29, 2018, 21:32 Hrs  [IST]
HBI Staff|New Delhi

The Economic Survey 2017-18 tabled by Arun Jaitley, Union Finance Minister in the Parliament today, underlines various policy reforms by the government leading to high growth rate in the Services sector including tourism. 

 The Services sector, with a share of 55.2 per cent in India’s Gross Value Added (GVA), continued to be the key driver of India’s economic growth contributing almost 72.5 per cent of GVA growth in 2017-18, Economic Survey 2017-18 stated. While the growth of Service Sector as a whole is expected to be at 8.3 per cent in 2017-18, the growth in Services exports was 16.2 per cent in H1 of 2017-18.

 The Government has taken many initiatives in the different Services which include digitization, e-visas, infrastructure status to Logistics, Start-up India, Schemes for the housing sector, etc. which could give a further fillip to the Services sector, the Survey notes. 

In Tourism, India’s foreign tourist arrivals (FTA) grew 9.7% in 2017 to 8.8 million and Foreign Exchange Earnings (FEE) grew by 8.8%. Domestic tourist visits grew by 12.7 per cent to 1,614 million in 2016 from 1,432 million in 2015. 

 The Survey takes note of various favourable initiatives taken by the Government to promote tourism include the introduction of the e-Visa facility under three categories of Tourist, Medical and Business for the citizens of 163 countries; launch of Global Media Campaign for 2017-18 on various Channels; launch of ‘The Heritage Trails’ to promote the World Heritage Sites in India; launch of International Media Campaign on various international TV channels; Celebration of ‘Paryatan Parv’ having 3 components namely ‘Dekho Apna Desh’ to encourage Indians to visit their own country, ‘Tourism for All’ with tourism events at sites across all states in the country, and ‘Tourism & Governance’ with interactive sessions & workshops with stakeholders on varied themes. FTAs on e-Tourist Visa grew by 143 per cent to 10.8 lakh in 2016, and further grew by 57.2 per cent to 17.0 lakh during 2017.

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