It’s a dream for every athlete to win the most prestigious Olympic medal for his/her country. Winning the medal at the highest sporting event is the biggest achievement for any athlete. Our Indian athletes are also working day in and day out to fulfill this dream. Winning the medal at the Olympics won’t only give them pride, honour and fame but also cash rewards.
The Central Government, State Governments and many private organisations have already declared the amount of money they would shower on athletes who would bring a medal back home.
The Central Government of India have declared that any athlete, who will bring the Gold medal for the country would be rewarded with a cash prize of Rs 50 lakhs, for Silver Medal it would be Rs 30 lakhs, and 20 lakhs for the Bronze medal winner. Also players working in central government will get up to three out of turn promotions during their service.
Many State Governments have also declared the amount which they would be giving to the Olympic medal winners. Haryana’s Chief Minister, Bhupinder Singh Hooda in an interview said that “it is due to the sports policy of the state government that maximum number of players from Haryana are participating in the upcoming London Olympics”. He also said that “as per the revised sports policy, Rs 11 lakhs each would be given to those competing in the Olympics from the state”.
Gold medal winners from the state would be given a prize money of Rs 2.50 crore, a silver medalist would get Rs 1.50 crore whereas winners of bronze medal will receive a prize money of Rs 1 crore. On the other hand Punjab’s Deputy Chief Minister, Sukhbir Singh Badal had also declared that Rs 2 crore cash prize would be given to each Olympic gold medal winner from the state, rs 1 Crore for the Silver Medalist and Rs 50 Lakhs for the Bronze Medal winner.
Tamil Nadu Government have also doubled the prize money for the Olympic Medal winners from 2008. Now the prize money for gold, silver and bronze medal winners in Olympics are Rs. 2 crore, Rs. 1 crore and Rs. 50 lakhs respectively. Also Madhya Pradesh Chief Minister, Shivraj Singh Chouhan announced that an award of Rs one lakh each would be given to all members of the Indian men’s hockey team who have qualified for the Olympics.
Many Private organisations have also come forward with cash rewards for the Indian medal winners at Olympics. Sandeep Jajodia, chairman Monnet Group, who are also the sponsor of Indian Boxing Federation announced that any Boxer winning a gold medal for India will be awarded Rs 51 lakhs, silver and bronze medal will fetch Rs. 21 lakhs and Rs 11 lakhs respectively. Samsung India, the official sponsor of the Indian team to the London 2012 Olympic Games, also revealed that any member of the Indian Team who will fetch the Gold Medal at the London Games will be awarded Rs 20 lakhs, Rs 15 lakhs for Silver medal winners and Rs.10 lakhs for Bronze medal winners. Government owned Oil and Natural Gas Corporation (ONGC), the Principal Sponsor of the London Olympics 2012 has announced to reward each Olympic gold medal winner with a hefty prize of Rs 25 lakhs, Rs 15 lakhs for Silver and Rs 10 lakhs for Bronze medal winners.
In an attempt to boost the morale of the Olympic-bound shuttlers, the Badminton Association of India (BAI) have announced a cash prize of Rs one crore for the gold medal winner. Wishing the players well, president BAI and Member Of Parliament, Akhilesh Das Gupta, in statement said that the Association will award Rs one crore, who will win gold medal at the London Games while the silver medalist will be given a sum of Rs 50 lakh. The player, who would bag the bronze will receive Rs 25 lakh, the release added.