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

The Tokyo Olympics has begun from Friday, while the Indian contingent looks set for a medal-winning spree. As the Indians would eye the gold, the Indian Olympic Association announced the gold medalists' cash prize. Check it out.

The Tokyo Olympics is underway from Friday, as the Indians would eye medals, especially the gold. Experts have rated this Indian side as its best ever, as there is a high chance that the contingent would enter the double figures in terms of medals tally for the first time.

Meanwhile, the medalists are usually awarded a cash prize by the Indian government. On the same note, the Indian Olympic Association has announced that a reward of ₹75 lakh would be given to the gold medalists and the National Sports Federations.

"The Advisory Committee of IOA has recommended cash award of ₹75 lakh for each gold medal winner; ₹40 lakh silver and ₹25 lakh to the bronze medal winners. It also recommended a sum of ₹1 lakh to each athlete representing the country at the Tokyo Olympic Games," said IOA in a release. The release also added that ₹25 lakh would be given to the NSFs, while ₹30 lakh more would be given to the medal-winning NSFs.

In the meantime, the Indian contingent's advisory group has urged the IOA to hand every Indian athlete $50 per day as its daily allowance during their stay in Tokyo. Also, the state associations under IOA would receive ₹15 lakh as a part of infrastructure development.

"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," said Rajeev Mehta (IOA Secretary-General) while making the announcement.

Moreover, the announcement was a bit suspicious as soon after the publication, Narinder Batra (IOA President) sent out a statement on Whatsapp, stating that Mehta and Anil Khanna (IOA Finance Committee Chairperson) took credit for a discussion he initiated last year. He also questioned why the virtual announcement was called while he was on his way to Tokyo? Nonetheless, he urged for a hike in IOA member units' annual grant to ₹12 lakh from ₹7 lakh.

 
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