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

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.

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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 India’s 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 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 program’s budget has also been increased from ₹879 crores to ₹974 crores this time. Increase of ₹95 crores.
  • The total encouragement and awards to sport spersons have seen a substantial increase from Rs 245 crore to Rs 357 crore.
  • Whereas on the other side the Sports Authority of India’s 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 country’s 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.

This will lead to more and larger sporting events being held across India which will require trained sports management professionals.

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