The Uttar Pradesh government has envisioned an investment of Rs 85,000 crore for the redevelopment of Ayodhya as it looks to develop the temple town as an economic and tourism hub. The redevelopment would be done as per the Master Plan 2031 and will be completed over 10 years, according to the report prepared by the government. ETBFSI has reviewed the copy of the report.
“It is a conscious effort of the state to invest more in capital expenditure as it is observed that ~ 1X spent on capital outlay generates a return of close to 2X -2.45X. For Ayodhya, this multiplier may be even higher on account of a massive overall surge in the economy,” it said.
The tourist footfall in the district has already increased from 0.6 crore in 2021-22 to 2.3 crore in 2022-23, it said, adding, “This surge in visitors will not only generate revenue for local businesses but also create employment opportunities, thereby stimulating the overall economy.”
Several banking and financial services institutions are expanding in Ayodhya to cater to the booming business the pilgrimage centre is set to offer.
“Since there is a large floating population in Ayodhya, we are also seeing whether the current banks can serve the population efficiently. We believe Ayodhya is going to be a tourist favourite destination in the country. Last year 32 crore people visited Uttar Pradesh, UP, the majority of them visited Ayodhya and then Varanasi, Mathura and Agra,” Sameer Varma, Special Secretary, Finance Department, Uttar Pradesh government, had told ETBFSI earlier this month.
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Hotels in Ayodhya
To cater to the growing demand, the number of hotel beds has rapidly increased to 3,322 in 2023, which will be massively increased with more than 15 hotel project proposals approved. “Leela and Lodha group have already joined hands for an ambitious Rs 450 crore project in Ayodhya. Hotel chains such as Indian Hotels Company Limited (IHCL), Marriott International, Sarovar Hotels & Resorts, and Wyndham Hotels & Resorts have also signed deals for hotels in Ayodhya. The development of hotels, guesthouses, homestays and other accommodation facilities will further elevate the city’s appeal as a tourist destination,” it said.
Road network to Ayodhya
While the National Highway Authority of India (NHAI) is executing projects worth Rs 10,000 crore, the public works department of the UP government has also taken up 34 projects worth close to Rs 7,500 crore. “The construction of a four-lane road connecting Shri Ram Janmabhoomi from the Gorakhpur-Lucknow Highway, passing through Mahoba Bazaar, is nearing completion at an approximate cost of Rs 45 crore. Moreover, four new pathways have been created in Ayodhya inspired by the four Vedas (Ram Path, Dharma Path, Bhakti Path and Janmabhoomi Path). More than 2,000 houses and shops were rebuilt to develop Ram Path,” it said, adding that the inter-state Ayodhya Dham bus station has been constructed to connect Ayodhya with different states of the country.
Railway network to Ayodhya
The revamped Ayodhya Dham Railway Station is being constructed on five acres of land at an estimated cost of Rs 430 crore. The three-story modern railway station building will be equipped with all modern features like lifts, escalators, food plazas, shops for puja needs, cloakrooms, child care rooms and waiting halls.
Airlines network to Ayodhya
Ayodhya Airport, also known as Maharishi Valmiki International Airport, was inaugurated by the Prime Minister in December. Built over 821 acres of land and at an estimated cost of Rs 328 crore, the airport is expected to provide a convenient gateway for travellers.
“The development of enabling infrastructure will not only ensure a seamless travel experience for tourists but also contribute to the overall development of the region,” it said.
Inclusive and sustainable growth
Ayodhya is set to get the world’s largest ‘Solar Powered Street Lights Line’, powered by a 40MW solar power plant. The solar initiatives include a 250KW rooftop solar project at Ayodhya Airport, a 50KW solar project set up at a cow shelter and solar powered mobile phone charging points and drinking water kiosks. Solar trees of 1kW and 2.5kW capacity are being installed at 52 locations, including public parks in Ayodhya.
“The growth in tourism, coupled with infrastructure development, has led to the creation of a myriad of job opportunities. The hospitality sector, transportation industry, and various ancillary services have witnessed a surge in demand for skilled and unskilled labour. Moreover, the real estate market has already witnessed a surge, benefitting the residents. This economic diversification ensures that the benefits of Ayodhya’s growth extend beyond the religious and cultural sectors, positively impacting the livelihoods of the local population,” the government said.
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