India’s Highest Ever Sports Budget In Financial Year 2022-2023: Rs. 3062.60 Crore​ | IISM Blog

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Indias Highest Ever Sports Budget In Financial
Year 2022-2023 Rs. 3062.60 Crore
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Sport is regarded as one of the largest
industries worldwide in terms of generating
employment and revenue. Sports is a
multi-billion dollar global industry propelled by
enormous consumer demand. According to Vinit
Karnik, national director for sports and live
events at GroupM ESP, in the past, sports was
seen as a loss-making affair. However, with the
formation of newer leagues and successful
franchises, the sports industry has grown by up
to 10 percent by the year 2014, Karnik
says. Over the last few years the kind of change
and improvement that has been showcased by our
athletes in participation and also their
performances in various sports, it is certain
that the government now is confident than ever
before to invest for the long term in
sports. The government started to promote sports
in their own ways by launching government scheme
initiatives like Khelo India Youth Games, Khelo
India University Games, Target Podium Scheme,
and investing in the young talent at their
grassroots level so that they can pursue sports
and represent India at an international level by
getting the proper training and facilities. You
may also like to read- Khelo India Youth Games
(KIYG) Indian Governments Flagship Grassroots
Talent Hunt Programme India had sent its
largest-ever contingent of 126 athletes to the
2020 Tokyo games. To date the 2020 Tokyo Olympics
are the most successful games for India since
their regular Olympics appearance in 1920.
medals (1 gold, 2 silver, and 4 bronze). The
Indian contingent participated in a record 69
events, and earned medals across 18 athletic
disciplines, and in Paralympics, this was
Indias most successful season with 5 golds 8
silvers, and 6 bronzes (total 19). Post the 2020
Tokyo Olympics Paralympics the success,
performance, hard work, and dedication of our
sportsperson has resulted in uplifting the spirit
of many individuals to take up sports as a
career path and the government to invest in
sports, athletes, infrastructure, and providing
them with the correct equipment and also
fulfilling all the requirements. In the union
budget for the fiscal year 2022-23, presented by
the central government, on Tuesday, 1st February
2022, the sports budget has been increased to
?3062.60 crores this year
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• from ?2757.02 crores of the previous fiscal year
  (2021-2022) effectively meaning an increase of
• ?305.58 crores in the budget.
• With the Commonwealth Games and Asian Games, both
  set to be held this year, the funds allocated
  will be used in preparing for both the
  mega-events and other sports disciplines for
  different sports federations.
• The National Youth Empowerment Program will also
  hugely benefit from the budget that will see an
  increase in the allocation of funds for the said
  program from the previous year. As compared to
  last the year when ?108 crores were spent on it,
  this year will see an increase of
• ?30 crores with ?138 crores set to be given.
• The Khelo India programs budget has also been
  increased from ?879 crores to ?974 crores this
  time. Increase of ?95 crores.
• The total encouragement and awards to
  sportspersons have seen a substantial increase
  from Rs 245 crore to Rs 357 crore.
• Whereas on the other side the Sports Authority of
  Indias budget has been reduced by Rs 7.41 crore
  to Rs 653 crore.
• The SAI is the nodal organization to manage
  Nationals Camps, provide Infrastructure,
  Equipment, and other Logistics to the countrys
  sportspersons.
• The allocation towards National Sports
  Development Fund has been reduced by Rs 9 crore
  to Rs 16 crore.
• The National service scheme has witnessed a
  whopping jump of Rs 118.50 crore from Rs 165
  crore to Rs 283.50 core.
• The allocation towards National Sports
  Federations (NSFs)remained untouched at Rs 280
  crore.
• As far as incentives for sportspersons are
  concerned, the budget has proposed a minimal hike
  of Rs 55 crore.
• The budget for National Sports Development Fund
  has been further reduced to Rs 16 crore from Rs
  25 crore.
• With the above-allocated budget in Sports, we can
  say that the increased budget will be directly
  proportional to the increase in sporting
  activities in our country.

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You may also like to read- Five reasons you
should begin with carving a career for yourself
in the Sports Industry