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Business News/ News / India/  Tokyo Olympics: IOA declares 75 lakh cash prize for gold medalists

Tokyo Olympics: IOA declares ₹75 lakh cash prize for gold medalists

Indian Olympic Association's Advisory Committee has announced that Indian athletes winning silver and bronze medals at Tokyo Olympics will be given ₹40 lakh and ₹25 lakh, respectively

All Indian athletes participating in Tokyo Olympics will be given ₹1 lakhPremium
All Indian athletes participating in Tokyo Olympics will be given 1 lakh

The Advisory Committee of the Indian Olympic Association (IOA) has recommended cash awards for Indian athletes participating in Tokyo Olympics. Athletes winning gold medal in the global sports event will be awarded 75 lakh.

Silver medal winners will be given 40 lakh, and bronze medal winner will receive 25 lakh. Each athlete in the Indian contingent to Tokyo Olympics will get 1 lakh, IOA said.

Each of the participating National Sports Federations (NSFs) a bonus amount of 25 lakh. Medal-winning NSFs will be granted further support of 30 lakh each. A support of 15 lakh each will be given to other member National Sports Federations.

"This is the first time IOA is giving reward to medal winners and medal producing NSFs to such an extent," IOA secretary general Rajeev Mehta told PTI.

The advisory group also recommended a daily pocket allowance of $50 to each member of the Indian contingent for their actual days of stay in Tokyo during the Olympics.

IOA further stated that the member State Olympic Associations "will also receive a sum of 15 lakh each, as a contribution from IOA towards developing sports infrastructure in the states and in encouraging more athletes to take up sports."

"The Indian Olympic Association understands the hardships faced by the athletes and the federations and felt that support and aid is required by all National Sports Federations, State Olympic Associations and most importantly the athletes, after having overcome the hurdles and hard times during the coronavirus pandemic since March last year," Mehta said.

India has sent its largest-ever Olympics contingent this year 127 athletes. Tokyo Olympics will begin on Friday and the Games will run up to August 8 this year. The event was slated to be held last year, but had to be postponed in light of the Covid-19 pandemic.

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Published: 22 Jul 2021, 08:53 PM IST
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