01 October 2016 Current Affairs GK: 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.
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