How Much Does Ram Temple Cost and How Does It Help the UP Economy?

On January 22, a "Pran Pratishtha" event was held at the Ram temple in Ayodhya. Prime Minister Narendra Modi, the day's "yajman" (primary host), presented at the great celebration. Many other dignitaries, including athletes and Bollywood stars, were also there. Though the celebrations started early on Monday morning, the "Pran Pratishtha" was slated to start around noon and last for an hour. Public 'darshan' is available at the temple starting on January 23 following the consecration ceremony. The cost of the Ram Temple and its economic benefits in Uttar Pradesh.

How Much Does Ram Temple in Ayodhya Cost?

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The Sri Ram Janmabhoomi Teerth Kshetra Trust, which is in charge of building the temple, first estimated that it would cost Rs. 1,800 crore. This estimate takes into account several different things, including labour, machinery, materials, building costs, and other administrative charges.

According to a PTI story from October of last year, the trust also invested Rs. 900 crore in building the Ram Temple in Ayodhya, which is scheduled to be completed between February 5, 2020, and March 31, 2023.

Collection Of Funds: The building and upkeep of the Ayodhya Ram Mandir became the main duty of the Shri Ram Janmabhoomi Teerth Kshetra Trust after its declaration. The trust started gathering money from pilgrims, private citizens, and other national organizations. The Shri Ram Janmabhoomi Teerth Kshetra Trust was authorized by the Central government in October of last year to accept foreign funding for the construction of the Ram Mandir in Ayodhya.

Since then, the trust has been aggressively soliciting donations. The Ram Janmabhoomi Teerth Kshetra Trust has received donations totalling an astounding Rs 3500 crore as of January 19, 2024.

How Does It Help the Ayodhya and Uttar Pradesh Economy?

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Prime Minister Narendra Modi's dedication to the Ram temple in Ayodhya is anticipated to significantly improve the Indian economy and turn the area into a popular travel destination. According to Jefferies, the temple may draw more than 50 million visitors a year, which would have a significant economic impact.

The expenditure of $10 billion on infrastructure improvements—such as building a new airport, remodelling a train station, creating a township, enhancing road connections, and other associated projects—is anticipated to have a compounding impact.

A recent analysis from Jefferies states that these advancements are anticipated to stimulate more economic activity, including the construction of new hotels, which will drive the expansion of the tourism industry by improving infrastructure.

India now has a 6.8% tourism-to-GDP ratio, which puts it below many of the major emerging and developed nations.

Every year, religious tourism brings in a large amount of money for India; in 2022, profits topped Rs 1.34 lakh crore, a spectacular 106% rise over 2021 estimates. The Uttar Pradesh government's tourism statistics show that Ayodhya received over 23 million visitors in 2022, and with the Ram Mandir's completion, this figure is anticipated to soar.

Also Read: Top 5 Famous Veg Restaurants in Ayodhya