Steel Ministry unveils sports policy, aims to groom Olympic medal hopes

The Maharatna and Navaratna CPSEs will contribute Rs 5 million each every year for the initiative

The Ministry of Steel launched a corporate sports policy for government-run steel companies on Monday to contribute towards development of sports in India.

Under the policy, Central Public Sector Enterprises (CPSE) will aim to groom sizeable number of medal hopes for the Olympics and other international level competitions and tournaments.

"The steel sector contributes nearly 2 per cent in country's GDP and its time we also contribute towards making India a healthy and proud sporting nation," Chaudhary Birender Singh said at the launch.

The policy will be executed by Apex Sports Body (ASB), to be formed by government-run steel companies. The body will receive funds through yearly contributions from all the companies. This funding will not be part of their CSR Budget.

While the Maharatna and Navaratna CPSEs will contribute Rs 5 million each every year, others will provide Rs 3 million each. This year, however, the contributions will be much higher. For the year 2018-19, the contribution from Maharatnas and Navaratnas will be Rs 10 million each.

"Maharatna and Navaratna CPSEs under MoS may set up Sports Academy/Nursery in at least one of the identified sports discipline and maintain infrastructure thereof including general fitness and facilities," a press note released by the ministry stated.

The academies will also extend facilities of staying, food, clothing, home travel, academic, medical and sports tournament participation expenses including stipend of the resident cadets.

The institutes will induct fresh cadets every year by organising camps in specific areas of the country.

India's largest steel maker SAIL will concentrate on football and athletics. NMDC will focus on archery, shooting and water sports.

Other companies, the note said, can tie-up with local bodies and academies to facilitate access of their stakeholders to various sports facilities provided therein in identified sports discipline.