The 2024 Union Budget marks a significant milestone for Indian sports, with an unprecedented allocation of ₹3,442 crores (announced in the interim budget in February). This funding underscores the government’s commitment to enhancing sports infrastructure and nurturing grassroots talent. The increase in funding for the Khelo India program, from ₹880 crores to ₹900 crores, aligns with our vision at STAIRS Foundation of building a solid foundation for sports at the grassroots level. As the Paris Olympics approaches, this enhanced support will boost our athletes’ preparation and morale.
Notably, the budget also emphasizes the development of sports facilities in Bihar and general infrastructure development in other states, a part of which is likely to boost local sporting infrastructure and support young athletes.
Additionally, the focus on youth and skill development is commendable. The plan to skill 20 lakh youth over five years, with a central outlay of ₹2 lakh crore, reflects a strategic investment in the future workforce. This initiative highlights the role of sports in fostering inclusivity and providing opportunities for the younger generation.
We keenly await the potential of the new twelve-month Prime Minister’s Internship, which offers a monthly allowance of ₹5,000 to youth aged 21-24 who are neither employed nor engaged in full-time education. This initiative will be cost-shared: the government will cover ₹54,000 annually per intern plus ₹6,000 for incidentals, while companies will contribute ₹6,000 from CSR funds for monthly allowances and bear the training costs. We believe that this can have a cascading impact on the all-round development of youth.
The budget’s forward-thinking approach has also opened up avenues for public-private partnerships to further elevate sports infrastructure and training. We applaud the government’s commitment and look forward to leveraging this momentum to build a robust sports ecosystem in India.
