Indian sports get Rs.11 bn budget

February 29th, 2008 - 7:55 pm ICT by admin  

A file-photo of P. Chidambaram

New Delhi, Feb 29 (IANS) Finance Minister P. Chidambaram Friday allocated Rs.1,111.81 crore (Rs.11.12 billion/$280 million) as total sports budget for 2008-09, an overall raise of Rs.254.34 crore over last year, with a special provision for the 2010 Commonwealth Games. The budget includes Rs.890 crore as plan outlay and Rs.221.81 crore as non-plan outlay.

“The Commonwealth Games are only 947 days away. As promised, we shall provide Rs.624 crore in 2008-09. I would urge the authorities concerned to adhere to the strict timelines and the quality standards,” Chidambaram said in his speech in parliament.

The Commonwealth Games will be held in Delhi Oct 3-14, 2010.

The provision is meant for upgradation/renovation of the Sports Authority of India stadiums, tennis stadium, upgradation/creation of training venues and preparation of teams for the Games. A provision has also been made for the grant of loans to the organising committee for holding the Games.

The finance minister also provided some relief to the sports good manufacturers.

“To provide a fillip to the manufacturers of sports goods, I propose to reduce the duty on specified machinery from 7.5 percent to five percent. I also propose to exempt from duty specified raw materials for sports goods,” he said.

An amount of Rs.67.20 crore has been earmarked for different projects/schemes of northeastern states, including Sikkim, for youth welfare scheme, sports and games.

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Sports |