Involvement of Private Sector in Development of Sports
Published on August 4, 2010 by INVC · 3 Comments
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INVC,,
Delhi,,
For the involvement of the corporate houses in the promotion and development of sports and games in the Country, the Government has instituted National Sports Development Fund (NSDF) in 1998 with a view to mobilizing resources from the Government as well as non-resident Indians. This was stated by the Minister of State of Youth Affairs & Sports Shri Pratik Prakashbapu Patil in the Lok Sabha today , in a written reply to a question by Shri D.V. Sadananda Gowda.
The Minister said that in order to make contributions to the fund attractive, 100% exemption from income tax is available on all contributions. Contributors to NSDF are free to assign the funds for specific purposes. The Ministry has received contributions from Board of control for Cricket in India (BCCI), Steel Authority of India (SAIL), Oil & Natural Gas Commission (ONGC), Jindal steel & power Ltd, Oriental Bank of commerce, Videcon international Ltd, Powergrid Corporation of India, State Bank of India etc.
The Minister further said that the Ministry of Youth Affairs & Sports has envisioned a ‘Legacy Plan’ that involves Public Private Partnership (PPP) for operation and maintenance of 5 stadia managed by Sports Authority of India (SAI) viz, Jawaharlal Lal Nehru Stadium, Indira Gandhi Stadium Complex, Major Dhyan Chand National Stadium, Dr. Syama Prasad Mukherjee Swimming Pool Complex and Dr. Karan Singh Shooting Ranges. Under the plan, each stadium, under a separate contract, will be handed over to private sector entities after the conclusion of Commonwealth Games 2010. The key stones of Legacy Plan are :
- encouraging community participation in sports leading to overall development of sporting culture in the country.
- ensuring self sustainability of each facility so as to provide a model for development and operations of future sports infrastructure in the Country.
- ensuring world class maintenance of each facility.
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Tags: Commonwealth Games, Involvement of Private Sector in Development of Sports
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