Ace shooter Abhinav Bindra, who won the first-ever individual Olympic gold medal for India at Beijing, would be awarded a prize money of Rs 50 lakh by the government during the Arjuna Awards ceremony on August 29.
Bindra, who won the gold in the 10m air rifle event, will receive the award from President Pratibha Patil at the Rashtrapati Bhawan, the sports ministry said in a statement in New Delhi on Tuesday.
The prize money, under the scheme of special award to medal winners in international sports events, was increased by Rs 20 lakh after Sports Minister MS Gill requested the finance minister and the prime minister to hike the sum in the wake of Bindra's historic feat.
The sum for silver and bronze medal winners has also been raised to Rs 30 lakh from Rs 18 lakh and Rs 20 lakh from Rs 2 lakh, respectively, the ministry said.