Indian Economy News

Ministry of Youth Affairs and Sports received a Budget allocation of US$ 415 million (Rs. 3,397.32 crores) for FY23, with an increase of 11% over FY23

The Government of India under the visionary leadership of the Prime Minister has brought sports and youth affairs into the centre stage and given a fillip to the overall ecosystem in the country through 360-degree support. Thus, the Budget Allocation for the Ministry of Youth Affairs and Sports has also seen a manifold increase over the years, from US$ 57 million (Rs. 466 crores) in 2004-05 to US$ 415 million (Rs. 3,397.32 crores) for the forthcoming financial year 2023-24. The Budget allocation for the Ministry of Youth Affairs and Sports has been increased by 11% in comparison to FY23, which is the highest-ever budget allocation for the Ministry since 2010. The Budget allocation is more than three times the budget of 2011-12 and almost two times the budget of 2014-15. The Budget allocation for the Department of Sports is US$ 301 million (Rs. 2,462.59 crores) and for the Department of Youth Affairs, it is US$ 114 million (Rs. 934.73 crores).

Some of the major schemes of the ministry like Khelo India, Sports Authority of India, Nehru Yuva Kendra Sangathan, National Sports Federation, and National Service Scheme have also seen a substantial increase in the budget outlay this year.

One of the special initiatives of the Department of Youth Affairs in the coming year will be building a Yuva Leadership Portal to reach out to youth and engage them in various activities so as to improve their leadership skills and inculcate a greater sense of responsibility towards society. The portal is being designed as a registry for young people who wish to enrol for any activity that improves the quality of life of the community and also increases their income-earning capacity.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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