Sports Budget 2023: The sports sector has been granted the largest budget allocation in its history, with a massive increase of over 300 Crores. The Union Budget for the new fiscal year 2023-24 has set aside a substantial amount of Rs 3397.32 Crores for sports. The Union Finance Minister presented the budget for 2023-24 in Parliament today, highlighting the importance of sports in the country. The announcement of this allocation comes at a time when the nation is preparing for the upcoming Asian Games 2023 and the Paris Olympics.
Khelo India gets the biggest boost
The allocation of such a significant amount of funds towards the sports sector is a testament to the government’s commitment to promoting sports and physical activity. The Khelo India initiative, in particular, has received a substantial funding of 1045 Crores, which is a major boost for the program and its efforts to nurture talent and promote sports at the grassroot level. This increase in funding will provide the necessary resources to improve the infrastructure and facilities for sports, as well as support the athletes.
The sports sector saw a Rs 358.5-Cr increase in funding in the 2022-23 budget. The allocation rose from ₹2757.02 in 2021-22 to ₹3062.60 crores the following year. Additionally, the Target Olympic Podium Scheme (TOPS) provided a significant boost to athlete training.
Sports Budget Allocation 2023-24:
- Khelo India: Rs 1045 Cr
- SAI: 785.52 Cr
- National Sports Federations: 325 Cr
- National Service Scheme: 325 Cr
- National Sports Development Fund: Rs 15 Cr
Hike in budget of other associations
The Sports Authority of India (SAI) has seen a hike of Rs 132.52 crore in funding, reversing the budget cut of Rs 7.41 crore from the previous year 2022-23. In this year’s sports budget, SAI has been allotted a total of Rs 785.52 crore. Khelo India has received the largest allocation in this year’s sports budget with an amount of Rs 1045 crore. The remaining funds have been allocated to the National Sports Federation (Rs 325 crore), National Service Scheme (Rs 325 crore), and National Sports Development Fund (Rs 15 crore).
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