Steel CPSEs will allocate a specific budget for sports activities
INVC NEWS New Delhi, Union Minister of Steel, Chaudhary Birender Singh, unveiled the corporate sports policy for Central Public Sector Enterprises (CPSEs) under the Ministry of Steel here today. The policy will provide a framework for promotion of sports by Steel Ministry CPSEs.
Speaking on this occasion, Chaudhary Birender Singh said that sports is an indicator of a country’s economic development and strength and CPSEs, under the Steel Ministry, will strive to groom medal aspirants for the Olympic Games. The Minister explained that CPSEs will discharge their responsibility through infrastructural and institutional support for talent spotting, scholarships, training and coaching. Emphasizing the need for institutional support to sports, the Minister said the “Khelo India” programme of the Central Government, which provides annual financial assistance of Rs. 5 lakh per annum for 8 years to talented players identified in priority sports disciplines, has started yielding results. The Minister said that Steel CPSEs will allocate a specific budget for sports activities, as per their financial strength, and this budget will be separate from the company’s CSR funds. He further stated that CPSEs under the Steel Ministry will encourage rural sports, sports for differently-abled and activities for homemakers by sponsoring annual and periodic sporting events. CPSEs of the Steel Ministry will also sponsor national and international sporting events. All the Steel Ministry CPSEs will form an Apex Sports Body which will get affiliated to National Level Sports Associations and Federations, Indian Olympic Association (IOA) and Para Olympic Federation and Association. Maharatna and Navratna CPSEs may set up Sports Academy in at least one of the identified sports discipline and maintain infrastructure there for including general fitness equipment and facilities. The Minister said that the Steel Ministry is responsible not only for its PSEs but also for nation-building and the sports policy is directed towards that end.