Security Printing & Minting Corporation of India Limited (SPMCIL) on Friday decided to hand over a cheque of ₹1 crore to Union Youth Affairs and Sports Minister Kiren Rijiju for the National Sports Development Fund (NSDF) on Thursday. The Managing Director and chairperson of SPMCIL, Tripti Patra Ghosh will be meeting Kiren Rijiju at his residence to hand over the cheque as a part of its Corporate Social Responsibility (CSR).
SPMCIL has also been listed as a Mini-Ratna Central Public Sector Enterprise (CPSE). Wholly owned by the Government of India, it is responsible for the manufacture/production of security papers, bank/currency notes, circulation & commemorative coins, special certificates with security features and security inks. Other responsibilities include the refining of gold and silver as well.
The National Sports Development Fund or NSDF was launched back in 1998. The fund was being made to collect money and help in the development of sports in the country. For Indian sportspersons, the fund from NSDF will help them get foreign coaches, psychological support, technical assistance, equipment and exposure to international competitions. The fund is also responsible for developing sporting infrastructure in the country.
Earlier, Indian finance minister Nirmala Sitharaman had reduced the funding of National Sports Federation to ₹ 245 crore, which is approximately ₹55 crore less than the revised ₹300.85 crore for 2019-20. As far as incentives for sportspersons are concerned, the budget for the National Sports Development Fund also got reduced to ₹ 50 crore from the earlier ₹ 77.15 crore.
Kiren Rijiju, on Wednesday, assured that there will be no shortage of funds for the National Sports Federations (NSFs), despite the government slashing its allocation in an Olympic year. The government gave a substantial hike of ₹312.42 crore to its flagship Khelo India programme but reduced allocation to the NSFs, National Sports Development Fund (NSDF) and incentives for sportspersons.
Kiren Rijiju, on Thursday, said India would participate in the 2020 Tokyo Olympics in full flow despite the threat of coronavirus. The Union Minister for Youth Affairs and Sports made the remark after National Rifle of Association announced that they have asked the shooters to not travel overseas and also said that they may opt out of the Olympic test event if the situation does not improve.