Expected revenue not earned during CWG: Gill
Wednesday, 10 November 2010, 06:15 IST   |    3 Comments
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Expected revenue not earned during CWG: Gill
New Delhi: The government Tuesday admitted that the organising committee of the Commonwealth Games failed to achieve an expected revenue of 1,708 crore from the mega sporting event. "An amount of 1,708 crore was expected to be generated through revenue by the organising committee (OC) which has not been achieved," Minister of Sports and Youth Affairs M.S. Gill told the Lok Sabha in a written reply. According to Gill, the OC was given an amount of 1,669.42 crore by the central government as loan for the conduct of the sporting event against the total approved amount of 1,813.42 crore. In addition, 687 crore for overlays (temporary fittings and fixtures) had also been approved as a loan to the OC. 87 crore was also approved as grant for 'Timing, Scoring and Result System' (TSR) and Games Times Equipment to the organising committee headed by Congress MP Suresh Kalmadi. However, Gill said out of the approved amount, only 557.40 crore was released for overlays and 81 crore for TSR and sports equipment. The minister also admitted that there were no earnings from advertisements as such. The sale of tickets generated a revenue of 39.17 crore, while sponsorship of 114.5 crore was received as against the contracted value of 375.05 crore. "In granting the international TV rights, 173.71 crore was received against the contracted value of 213.45 crore," Gill said.
Source: IANS
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