Japanese agency to lend Rs396 core for UP Buddhist circuit project

The government of India has entered into a loan agreement with the Japan International Cooperation Agency (JICA) for loan assistance to the tune of 9,495 million Japanese yen (around Rs395.63 crore) for the Uttar Pradesh Buddhist Circuit Development Project, union minister for tourism, Kumari Selja said.

The project includes development of Buddhist centres situated at Sarnath, Kushi Nagar, Kapilavastu, Sravasti and Sankisa, she said while addressing the Economic Editors' Conference in New Delhi.

The project inter-alia includes improvement of nearly 74 km of road component; storm water drainage system at Kushinagar and Sravasti; site attraction enhancement in the area and signage import in the archaeological sites.

"This project also includes community participation, tourism promotion programmes etc. The ministry is also organising an international meet with all trade and media representatives in Nalanda, Bihar in February next year, to showcase India's Buddhist heritage," she added.

The minister said the Reserve Bank of India has de-linked credit for hotel projects from the commercial real estates (CRE), enabling hotel projects to avail credit at relaxed norms and reduced interest rates.

She said the government has taken new initiatives to provide the required skilled manpower in hospitality sector. This includes skill training in food production (cooks) and F&B (waiters) sector under the `Hunar se rozgar tak' and skill certification of existing service providers.