'Expected revenue not earned during CWG'
The government today admitted that the Organising Committee of the Commonwealth Games failed to achieve the expected revenue of Rs 1,708 crore from the mega sporting event.delhi Updated: Nov 09, 2010 18:49 IST
The government on Tuesday admitted that the Organising Committee of the Commonwealth Games failed to achieve the expected revenue of Rs 1,708 crore from the mega sporting event.
"An amount of Rs 1,708 crore was expected to be generated through revenue by the Organising Committee (OC), which has not been achieved," Minister of Sports and Youth Affairs MS Gill told the Lok Sabha in a written reply.
According to Gill, the OC was given an amount of Rs 1,669.42 crore by the central government as loan for the conduct of the sporting event against the total approved amount of Rs 1,813.42 crore.
In addition, Rs 687 crore for overlays (temporary fittings and fixtures) had also been approved as a loan to the OC. Rs 87 crore was also approved as grant for 'Timing, Scoring and Result System' (TSR) and Games Times Equipment to the organising committee headed by Congress MP Suresh Kalmadi.
However, Gill said out of the approved amount, only Rs 557.40 crore was released for overlays and Rs 81 crore for TSR and sports equipment.
The minister also admitted that there were no earnings from advertisements as such.
The sale of tickets generated revenue of Rs 39.17 crore, while sponsorship of Rs 114.5 crore was received as against the contracted value of Rs.375.05 crore.
"In granting the international TV rights, Rs 173.71 crore was received against the contracted value of Rs 213.45 crore," Gill said.