Indian Olympic Association Announces Cash Award to Medal Winners

The Indian Olympic Association (IOA) announced a cash prize for the medal winners at Tokyo 2020 Games. The IOA said that it would give the Tokyo Olympics gold medal winners a cash award of Rs 75 lakh apart from giving each of the participating National Sports Federations (NSFs) a bonus amount of Rs 25 lakh.

The Indian Olympic Association Advisory Committee has recommended that silver medal winners will be presented Rs 40 lakh, while the bronze winners will get richer by Rs 25 lakhs.

“It also recommended a sum of Rs. 1 lakh to each athlete representing the country at the Tokyo Olympic Games,” IOA said in a statement.

The IOA has also acknowledged the suggestions of its advisory group that a bonus of Rs. 25 lakh be given to each participating NSF and further support of Rs 30 lakh to each medal-winning NSFs.

Besides, support of Rs 15 lakhs each will be received by other members of the National Sports Federations.

“This is the first time IOA is giving reward to medal winners and medal producing NSFs to such an extent,” Indian Olympic Association secretary general Rajeev Mehta said.

The advisory group also recommended a pocket allowance of USD 50 per day to each member of the Indian contingent for their actual days of stay in Tokyo.

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

Mehta said: “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.”

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