Sports Sector Gets the Infrastructure Status

Posted on:01 Oct 2016 09:32:07

Sports Sector Gets the Infrastructure Status
01 October 2016 Current Affairs: The Union Finance Ministry has decided that sports infrastructure will be included under the harmonised master list of infrastructure sub-sectors. Earlier, the Ministry of Youth Affairs & Sports Affairs had moved the proposal for inclusion of sports in the list to address the issue of deficit of sports infrastructure in the country.

It will include sports stadia and infrastructure for academies for training and research in sports and sports-related activities in the infrastructure sub-sectors. 

With this, sports sector becomes eligible for obtaining long term financial support from banks and other financial institutions on same principle available to other infrastructure projects.

 It will also encourage private investment in a public good which has socio-economic externalities in a country with young population.

 It will also bolster investment in sports infrastructure sector which will contribute to the economy and help in promotion of health and fitness of the people.

 It will also provide opportunities for employment in the new and existing sectors. Besides, investment from private sector will widen the platform from where the country can become a sporting power in future.


Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs July 2017

25 JULY
NEWS
24 JULY
NEWS
22 JULY
NEWS
21 JULY
NEWS

Current Affairs June 2017

30 JUNE
NEWS
29 JUNE
NEWS
28 JUNE
NEWS
27 JUNE
NEWS

Current Affairs May 2017

31 MAY
NEWS
30 MAY
NEWS
29 MAY
NEWS
27 MAY
NEWS