Under the Union Budget 2023-24, the Ministry of Youth Affairs and Sports has received an allocation of INR 3,397.32 Crores. The budget allocation has increased by 11% compared to the funds allocated in the financial year 2022-23. The Khelo India initiative has received the highest funding (allocation) amongst all the initiatives with a grant of INR. 1,000.00 Crores. Regarding department-wise allocation, the Department of Sports has received INR 2,462.59 Crores, and the Department of Youth Affairs has received a sum of INR 934.73 Crores.
Furthermore, the Sports Authority of India, Nehru Yuva Kendra Sangathan, National Sports Federation, and National Service Scheme are set to receive INR 785.52 Crores, INR 401.49 Crore, INR 325.00 Crore, and INR 325.00 Crore, respectively. According to the PIB (Press Information Bureau) analysis, 27% of the budget allocated for the ministry includes the grants required to create capital assets. The increase in allocation for the Sports Authority in India is due to the operation funding required to expand initiatives such as the Khelo India Initiative, the Olympic Podium Scheme, and the National Centre of Excellence (NCOE).
The Target Olympic Podium Scheme (TOPS) was introduced in the year 2014 to assist athletes in preparing for the Olympic Games and Paralympic Games, 2020, provide training (including foreign training), a monthly stipend (of INR 50,000.00 from the National Sports Development Fund), etc. The NCOE, on the other hand, was set up to enable the functioning of the sports promotional schemes of SAI. However, the budget allocated towards incentives given to athletes for participating in international competitions has been reduced from INR 55 Crores to INR 45 Crores.
The increase in the budget is promising in light of the upcoming tournaments, including the 2024 Summer Olympics.