In a recent piece of news, the Union Government of India has released the interim budget for the upcoming Fiscal Year 2024-25. Finance Minister Nirmala Sitharaman allocated the funds for sports for the upcoming Fiscal Year. However, the government have made no changes in the allocation of funds for sports coming next year.
India have achieved a lot in sports on various platforms in the last year; despite that, the government haven’t made any change or increase in the funds for the sports in comparison to the last Fiscal Year.
“The country is proud of our youth scaling new heights in sports. The highest-ever medal tally in Asian Games and Asian Para Games in 2023 reflects a high confidence level,” said FM Sitharaman in her budget speech.
“Chess prodigy and our no.1 ranked player Praggnanandhaa up a stiff fight against the reigning world champion Magnus Carlsen in 2023. Today, India has over 80 Chess Grandmasters compared to a little over 20 in 2010,” she added later.
Here's a look at fund allocation for sports in last fiscal year
Here’s a look at some important budget allocations in the last Fiscal Year of 2023-24
Allocation of INR 1,000 crore in the Khelo India Initiative with an increase in comparison to the budgets which were allocated in the previous years.
A fund of INR 785.52 crores was allocated to the Sports Authority of India (SAI), which was used to nurture young talents, alongside organizing various sporting events throughout India.
Nehru Yuva Kendra Sangathan’s budget for the Fiscal Year of 2023-24 was increased to a big amount of INR 401.49 crores.
Subsequently, a lot of sporting personalities and athletes came up with praising remarks for Finance Minister Nirmala Sitharaman’s budget speech which is also her last speech in the tenure of the Narendra Modi-led BJP government.