News: Rs 500 crore earmarked for Commonwealth Games

(BL 28/02/2007) New Delhi - An allocation of Rs 500 crore for the Commonwealth Games, to be held in 2010, was announced in the Union Budget, besides a higher allocation of Rs 111 crore for the Sports and Youth Affairs Ministry.

In a bid to make the multi-disciplinary sporting extravaganza a success, the Centre would sanction Rs 350 crore to the Delhi government and another Rs 150 crore to the Youth Affairs and Sports Ministry for organising the Games.

Chidambaram also earmarked Rs 50 crore for the Commonwealth Youth Games to be held in Pune next year. The Sports and Youth Affairs Ministry has been provided a budget allocation of Rs 780 crore for the year 2007-08, an increase of Rs 111 crore from th e previous year.

Although Rs 669 crore was the budget allocation in 2006-07, it was later revised to 573.77 crore. Rs 700 crore has been earmarked for plan expenditure, while Rs 80 crore has been kept for non-plan expenditure.

In view of a shortage of 20,000 rooms for the Commonwealth Games, Chidambaram said a five-year income tax holiday will be granted to two, three and four star hotels as well as convention centres with a seating capacity of not less than 3,000.

These hotels should be completed and begin operations in Delhi or in adjacent districts during the period April 1, 2007 to March 31, 2010.