Sports Minister MS Gill on Tuesday informed the Lok Sabha that the Organising Committee (OC) of the Commonwealth Games has failed to generate the expected revenue from the event.
After spending a huge amount of taxpayers' money, the OC failed to achieve the target revenue of Rs 1708 crore from the October 3-14 event.
"An amount of Rs 1708 crore was expected to be generated through revenue by the Organising Committee but it could not be achieved," Gill admitted while giving accounts of the revenues generated by ticket sales, sponsorship and advertising.
Asked to reveal the details of the total amount of funds spent and the sources from which the funds were mobilised and obtained including those from external agencies for conducting the Games, Gill said, "an amount of Rs 1669.42 crore was given by the government of India to the OC as loan for the organisation of the Games, against the total approved amount of Rs 1813.42 crore.
Gill also said the funds from the external agencies had been received in respect of sale tickets and sale of international TV rights.
After spending a huge amount of taxpayers' money, the OC failed to achieve the target revenue of Rs 1708 crore from the October 3-14 event.
"An amount of Rs 1708 crore was expected to be generated through revenue by the Organising Committee but it could not be achieved," Gill admitted while giving accounts of the revenues generated by ticket sales, sponsorship and advertising.
Asked to reveal the details of the total amount of funds spent and the sources from which the funds were mobilised and obtained including those from external agencies for conducting the Games, Gill said, "an amount of Rs 1669.42 crore was given by the government of India to the OC as loan for the organisation of the Games, against the total approved amount of Rs 1813.42 crore.
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Gill also said the funds from the external agencies had been received in respect of sale tickets and sale of international TV rights.
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