Sports sector receives its highest-ever budget allocation in history with an over 300 cr jump

Khelo India received a Rs 1,045 crore funding.


Mumbai: The sports sector has received its highest-ever budget allocation in history. With an over Rs 300 crore jump, the sports sector has received Rs 3,397.32 crore allocation in the new FY 2023-24 Union Budget.

The union finance minister presented the budget for 2023-24 at the parliament on 1 February. With Asian Games 2023 coming up and the Paris Olympics preparations in full swing, the finance ministry has recognised the importance of increasing the budget. Khelo India received Rs 1,045 crore funding.

Sports budget allocation 2023-24:

   1. Khelo India: Rs 1,045 crore

   2. SAI: 785.52 crore

   3. National Sports Federations: 325 crore

   4. National Service Scheme: 325 crore

   5. National Sports Development Fund: Rs 15 crore

Recently, Sports For All joined Khelo India as powered by sponsor to empower India’s next sports icons wherein a five-year-long association will see Sports For All investing Rs 12.5 crore to promote Khelo India mission, developing grassroots sports in the country.

SFA founder Rishikesh Joshi, “This is a strong message from the government on the importance of sport to our nation. For India to be a global sports super power we constantly need to focus on grassroots sports and a large part of this budget has consistently been allocated towards the same. The over 200 per cent jump in the Khelo India Budgets from 2017 shows the importance of investing in youth sport!

“The quality of science, nutrition and professionals that our young athletes need will get a huge boost. Also, more athletes will be able to get the support they need and thereby our participation in global events such as the Asian Games will get strengthened. India will also be able to attract and host more global sports events which will further strengthen our sporting ecosystem.”

Ultimate Kho Kho CEO, league commissioner Tenzing Niyogi said, “The Union Budget for the fiscal year 2023/24, which was presented by finance minister Nirmala Sitharaman saw an increase of over Rs 300 crore in sports allocations from last year. The sports budget has increased to Rs 3,397.32 crore. This will be a progressive step in aiding India’s preparations for this year's Asian Games and Paris Olympics which can result in an increased presence in multi-nation prestigious events and an opportunity funnel for widespread sports to come into the limelight.

“The budget will enable financial assistance to the state governments to develop sports infrastructure and facilities and to encourage sports participation at the grassroots level. The growth of indigenous sports will fuel the sports league talent supply chain which eventually will bring India closer to becoming a multi-sport playing nation. The increasing commercialisation of sports in India is also helping to create a vibrant sports culture.”

Latest Reads

IDPL announces the rollout of TECHLUSIVE.in

Mumbai: The Internet is a vast ocean made up of cluttered sources of information. Finding the right information in a comprehensive manner is a challenge to users. Once you find the information its credibility and bias is a big question. Enter TECHLUSIVE.in, the new technology platform from India’s...

iWorld Over The Top Services
Kapil Rathee elevated to co-founder of Junglee Games

Mumbai: Junglee Games has announced the elevation of Kapil Rathee to the position of co-founder. The elevation recognizes Rathee’s exceptional contribution to the business as he continues to be an integral part of the company’s executive leadership team.

iWorld Over The Top Services
OTTplay to host the first edition of OTTplay Changemaker Awards, 2023

Mumbai: OTTplay, India's first AI-powered one-stop destination for streaming, content, reviews, and recommendations, is all set to divulge the first edition of the OTTplay Changemakers Award, on 26 March 2023, at the JW Marriott in Mumbai. This will be a marquee event that will honor and celebrate...

iWorld Over The Top Services
disguise announces collaboration with NVIDIA

Mumbai: disguise has announced a new collaboration with NVIDIA to integrate the NVIDIA Omniverse platform with disguise’s platform for immersive experiences. Creatives will soon be able to connect their preferred digital content creation (DCC) tools, like Maya, Cinema 4D, 3ds Max and more, in a...

iWorld Over The Top Services
Sony Music Entertainment India appoints Vinit Thakkar as new MD

Sony Music Entertainment India (SME) has announced the appointment of Vinit Thakkar as managing director of the company.

iWorld eNews
coto and Collective Artists Network team up to empower women through tokenised reward program - coto Gains

Mumbai: In the digital landscape, creators have a powerful impact and influence on people worldwide. Women, in particular, are carving out a unique niche but are yet to receive their due recognition. coto is committed towards building a safe and free social community platform for women based on...

iWorld Over The Top Services
Zee5 celebrates the success of its Tamil content

Zee5 is celebrating the success of its marquee, original Tamil content lineup, which includes titles such as ‘Vilangu’, Ayali’and ‘Paper Rocket’.

iWorld Over The Top Services
Victor Tango partners with NewsLaundry for research based dramatic series for OTT platforms

Victor Tango Entertainment and NewsLaundry have collaborated to produce compelling, credible, and investigative stories based on facts and extensive research.

iWorld Over The Top Services
Wings joins forces with Orangutan

Mumbai: Orangutan announces Wings as their official audio partner. This comes as an homage to all the #ApeArmy fans. This collaboration embodies power, tenacity, and fierce aggression, traits the #ApeArmy stand by. The team-up with Wings symbolizes the true spirit of Orangutan in the gaming...

iWorld Over The Top Services