Govt gives Rs 1620 crore budgetary boost to Games
Hit by delays and escalating cost of infrastructure, the 2010 Commonwealth Games in New Delhi received a massive budgetary boost on Thursday with the central government allocating Rs 1620 crore as loan to the Organising Committee of the event.india Updated: Nov 06, 2009 00:32 IST
New Delhi: The Centre on Thursday cleared another portion of monetary funds to the Organising Committee (OC) Commonwealth Games 2010 to conduct the games, the first major sporting event in the country after the 1982 Asian Games.
“The Union Cabinet approved the proposal of Ministry of Youth Affairs and Sports for providing a revised budget of Rs 1,620 crore, as loan to the Organising Committee Commonwealth Games 2010,” Ambika Soni, Information and Broadcasting Minister, announced on Thursday.
Soni said the government had earlier cleared a Rs 767 crore loan for organising the games.
Of the five factors that led to the enhancement, Soni said a major chunk — Rs 375 crore —would go towards the rent for the OC headquarters and deployment of technology.
The committee is responsible for conduct and delivery of the Games including accreditation, opening and closing ceremonies, publicity, reception and ticketing.
Soni said the OC had promised to repay the loan from the Rs 1,708 crore that the committee generates as revenue.
With the difference between the expected inflow and expenditure considerably thinning out, government officials suggested there might eventually be a need for the government to write off a portion of the loan.