IOA announces cash reward of INR 75 lakh for gold medal winners from India in Tokyo Olympics

It has also been decided that a pocket allowance of USD 50 per day will be provided to each member of the Indian contingent (including players and staff) for their actual days of stay in Tokyo.

Rohan Gulaty Author

Updated - 22 July 2021 11:39 pm

With the Tokyo Olympics set for its mega opening ceremony on July 23, fans across the globe have set their eyes on what is going to be an exciting two weeks of action in the capital of Japan. More than 11,238 athletes will take part in the event, representing over 204 nations. Talking about India, around 127 participants have travelled to Tokyo who will represent the country in 18 different sports.

With hopes of the entire nation lying on their shoulders and so much pressure to perform at the biggest stage in the most important sports event of their lives, it is certainly going to be a very testing time for all the Indian athletes. While the blessings of all the fans will be there, the participants will also have some external motivation to perform to their full potential.

Cash rewards for medal winners in Tokyo

Indian Olympic Association (IOA) has announced the cash rewards for the medal winners on Thursday. While a sum of INR 1 lakh will be given to all the participants representing India in Tokyo, the gold medal winners will be awarded INR 75 lakhs. The financial rewards for medal winners will be as follows:

Gold Medal - INR 75 Lakhs

Silver Medal - INR 40 Lakhs

Bronze Medal - INR 25 Lakhs

As per the suggestions of the advisory group, IOA has also decided that a support of INR 25 Lakhs will be provided to all the participating National Sports Federations (NSF). An added bonus of INR 30 Lakhs will be given to all the medal-winning NSFs. Notably, the other National Sports Federations will also receive a support of INR 15 Lakhs.

General secretary Rajeev Mehta reflects on decisions taken by IOA

Reflecting on the same, IOA secretary general, Mr Rajeev 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.”

Additionally, it has also been decided that a pocket allowance of USD 50 per day will be provided to each member of the Indian contingent (including players and staff) for their actual days of stay in Tokyo. In the official release, IOA also confirmed that the member State Olympic Associations will also receive a sum of INR 15 lakh each for the development of sports infrastructure in the states and to encourage more athletes to take up sports.