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Rediff News  All News  » Business » Sports promotion to get tax sops

Sports promotion to get tax sops

September 04, 2003 10:46 IST

The government is planning to introduce tax exemptions for the corporate sector on promotion of sports, R K Mishra, joint secretary, ministry of youth affairs and sports, said.

Speaking at an interactive session of diplomatic corps organised by the Confederation of Indian Industry on Wednesday, Mishra said in order to broaden sports and achieve positive results, corporate investment was a must.

Unless the youth of the country took up sports as a viable career option, it would be difficult to initiate a mass movement. He urged the corporates to create an awareness in this regard.

Mishra urged state governments to provide land on easy terms to corporate sponsors with viable proposals to popularise sports. Investment in sports yielded good returns and cricket was a good example of that.

"Industry should, however, sponsor other disciplines as well. What is required is to wake up the sleeping giants and reap profits," he said.

The joint secretary noted that the upswing in Indian sports began with Manchester Commonwealth Games 2002. The tempo was maintained at Busan Asian Games where India came second only to China.

Ever since, a number of encouraging results had been achieved by Indian sportspersons, especially the youngsters. Outstanding results in football, hockey and volleyball had given a new dimension to Indian sports, Mishra added.

Explaining the steps taken by the sports ministry, Mishra said the National Sports Policy 2001 had a broad perspective with a few disciplines having been accorded priority.

He said India was also cooperating with countries such as Cyprus, Egypt, Luxembourg, Turkey, Brazil, South Korea and Cuba to garner their support for the development of sports in the country.

Avinash C Kohli, vice-president, Indian Olympic Association said some items such as hockey, volleyball, athletics and football were showing good results but warned a lot had yet to be achieved.

He called for speedy developments in infrastructure, coaching and sports medicine for the country to compete at the international level.
BS Corporate Bureau in New Delhi