New Delhi, July 23: Sports industry watchers on Saturday welcomed the government's decision to allocate increased funds for Khelo India, the Centre's flagship project that will get Rs 900 crore in the 2024-25 financial year. Ayhika Mukherjee, Satwiksairaj Rankireddy and Other Indian Athletes Meet Rafael Nadal At Olympic Games Village in Paris (See Pic).

The Rs 900 crore that Khelo India received is the highest allocation from the Sports Ministry's total budget of Rs 3,442.32 crore in the Union Budget presented by Finance Minister Nirmala Sitharaman on Tuesday.

The budgetary allocation for sports for this financial year is very slight as the Olympic cycle concludes in August while the next Commonwealth Games and Asian Games are two years away.

The Khelo India budget for the previous financial was hiked to Rs 880 crore from Rs 596.39 crore in the 2023-24 budget. This year, the government added a further 20 crore to it.

The government has also increased support for the National Sports Federation (NSF) by Rs 15 crore, raising it to Rs 340 crore. The Sports Authority of India has received a hike of Rs 26.83 crore, from Rs 795.77 to Rs 822.60.

The increase in budget has received a positive response from people associated with the sports industry.

“There is an increased budget for the sports sector through the Khelo India scheme and this should give an impetus to both high performance and grassroots build-up. An additional budget for sports infrastructure is also a big bonus. Right motivation during the Olympic buzz,” said Prasanth Shanthakumaran, Partner and Head, Sports Sector, KPMG in India.

"The 2024 Union Budget marks a significant milestone for Indian sports, with an unprecedented allocation of Rs 3,442 crore (announced in the interim budget in February). This funding underscores the government's commitment to enhancing sports infrastructure and nurturing grassroots talent. Covid Fear Hits Paris Olympics 2024, Unnamed Australian Water Polo Athlete Isolated in Games Village After Testing Positive.

"As the Paris Olympics approaches, this enhanced support will boost our athletes’ preparations and morale," Siddhartha Upadhyay, President and Founder of STAIRS Foundation, wrote in a note.

(The above story first appeared on LatestLY on Jul 24, 2024 07:36 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).