Chidambaram Showers More Money On Sports

New Delhi: Finance Minister P Chidambaram on Friday allocated Rs 1,111.81 crore as total Sports Budget for 2008-09, an overall raise of Rs 254.34 crore over last year, with a special provision for the 2010 Commonwealth Games.

The Budget includes Rs 890 crore as plan outlay and Rs 221.81 crore as non-plan outlay.

"The Commonwealth Games are only 947 days away. As promised, we shall provide Rs 624 crore in 2008-09. I would urge the authorities concerned to adhere to the strict timelines and the quality standards," Chidambaram said in his Budget speech in Parliament on Friday.

The Commonwealth Games will be held in Delhi October 3-14, 2010.

The provision is meant for upgradation/renovation of the Sports Authority of India stadiums, tennis stadium, upgradation/creation of training venues and preparation of teams for the Games.

A provision has also been made for the grant of loans to the organising committee for holding the Games.

The Finance Minister also provided some relief to the sports good manufacturers.

"To provide a fillip to the manufacturers of sports goods, I propose to reduce the duty on specified machinery from 7.5 per cent to five per cent. I also propose to exempt from duty specified raw materials for sports goods," he said.

An amount of Rs 67.20 crore has been earmarked for different projects/schemes of Northeastern states, including Sikkim, for youth welfare scheme, sports and games.

Govt To Ensure 4% Farm Growth: Chidambaram

New Delhi: A day after the Central Statistical Organisation projecting a sluggish agricultural growth this fiscal, Finance Minister P Chidambaram today said the government will take all steps to ensure a four per cent expansion in the farm sector for next 10-20 years.

"First charge on our resources is for agriculture, so that it grows at 4 per cent or more for next 10-20 years" Chidambaram said at a NABARD function here.

"Everything can wait except agriculture," he said, adding that the government was committed to take all measures for growth of the farm sector.

Chidambaram said the government was ready to set up a technology fund for the farm sector.

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Whatever may be the external factor, he said, through human intervention and technology it was possible to achieve and sustain a 4 per cent growth in agriculture.

Referring to CSO's advance estimates of GDP for the current year, he said "we are confident that agricultural growth would be higher than the advance estimates".

CSO has estimated that agriculture output would grow at 2.6 per cent this year, against 3.8 per cent last year.

The Finance Minister said, "Agriculture Ministry has reported yesterday that maize and soyabean production would be all time high this year, that is not reflected in advance estimates." "I am confident that final growth rate of agriculture would be better," he said.