The Union Budget 2022 brought with it good news for the sports sector and industry in India with an increase of INR 300 crore taking the total allocation to Rs. 3062 crore
With election in five crucial states around the corner in the impending time, the incumbent BJP government spearheaded by Prime Minister Narendra Modi could have opted for a populist budget, one framed to appease people and entice voters in the short term.
Union Budget 2022 Live Highlights: Sports Industry Handed Over Rs.3,062 crore In Rs.300 Crore Boost
However, in a country where budgets have traditionally been foraged with only elections in India, the Indian government and Finance Minister opted to adopt a country first approach. With a 25 year vision and roadmap, the Union Budget for the 2022-23 year was presented by Nirmala Sitharaman who presented it during her 1 hour and 30 minute long speech.
Among scores of industries and sectors which were addressed, one which was persistently been kept an eye out on was the sports industry. With the country having made massive strides in the fraternity across the last couple of years owing to the Khelo India Youth Games, Fit India, Target Olympic Podium Scheme and National Youth Empowerment program of the central government, this year’s outlay was eagerly anticipated.
And with the Asian Games and Commonwealth Games on the anvil, the government allocated a total of Rs.3,062.60 crore to the sector for 2022-23, an increase of Rs.300 crore from the Rs.2,725 crore given in 2021-22. The amount given to the Khelo Indian Youth Games saw an increase from Rs.879 to Rs.974 crore with the National Empowerment Scheme seen an uptick to Rs.138 crore from Rs.108 crore.
The budget for the sports sector is alluded towards ensuring athletes, government bodies like the Sports Authority of India, Athletics Authority of India and other players in the fray are able to have adequate money to function seamlessly. The government had spent Rs.7 crore on Neeraj Chopra under the TOPS scheme prior to him bringing home the gold medal from the Tokyo Olympics.
For the first time, an Animation, Visual Effects, Gaming and Comics promotion task force is also being set up in the country, one which will spur the eSports fraternity in the country.