Top Sports Finance Schemes in India for Aspiring Sportsperson

India will likely become the 4th largest economy in the world by 2025, after the United States, China, and Japan. The country will contribute 5.5-6% to the world GDP. While most of the developed nations face the risk of an ageing workforce, India, on the contrary, will have a favourable demographic profile. And here comes the importance of different kinds of sports programs conducted across the country. The Sports Authority of India is the country's premier sports organisation that spearheads sporting ambitions and develops the environment to promote the sports culture in the country. Apart from everything, playing sports at the highest level needs better infrastructure and is very expensive at the same time. The athlete must have financial security so that he/she can perform can the peak. This post reveals some crucial sports schemes that help aspiring athletes to get financial security to make a successful career in their respective sports. > Sports Authority of India Promotional Schemes The Sports Authority of India (SAI) Promotional Schemes is SAI's initiative and is applicable to 273 centres across the country. The primary objective of these schemes is to recognize potential sports talents and support them in the best possible manner. Some of the promotional schemes started by SAI include §  Army Boys Sports Company Scheme (ABSC) §  National Sports Talent Content Scheme (NSTC) §  Special Area Games Schemes (SAG) §  SAI Training Centres Scheme (STC) §  Centre of Excellence Scheme (COX) The Sports Authority of India allocated a total fund of 7600 crores for the financial year 2018-2019. This shows the government's interest in promoting the spirit of sports culture in the country. > Khelo India The name suggests ‘Play India’ is one of the most promising sports financial schemes started in 2018. The scheme was initiated by then Sports Minister and former Olympic medalist Rajyavardhan Singh Rathore. This scheme aims to develop a strong-rooted sporting culture in the country from a grassroots level. The Government of India has allocated 657.71 crores for this scheme for the ongoing financial year (2021-22). Through this scheme, potential talents are hand-picked from the country, and they get financial assistance. Some athletes also avail of loans to prepare for a higher level. But with this kind of initiative, young lads will become financially secure. > Target Olympic Podium Scheme (TOPS) The Government of India initiated the Target Olympic Podium Scheme in 2014. This scheme was put into action by the Ministry of Young Affairs and Sports to fulfil India's medal dream at the 2016 Rio de Janeiro and 2020 Tokyo Olympics. The scheme made a committee named TOPS Elite Athletes’ Identification Committee. The committee was responsible for identifying who could perform and win the country's Olympic medal. This scheme specialises in sporting events like wrestling, archery, hockey, badminton, shooting and boxing. The scheme earmarked total funding of 100 crores for funding the athlete. > National Centre of Excellence The Ministry of Youth Affairs and Sports announced the National Centre of Excellence (NCOE) formation in 2019. As of now, there are 20 NCOEs in the country. The primary objective of these centres is to train deserving athletes of the upcoming 2024 Paris and 2028 Los Angeles Olympics. Every centre of excellence has selected funding for 4-6 sports. There are still many young, passionate and deserving athletes in the country who are not getting their breakthrough. They seek financial aid through loans, sanctions, fundraising campaigns, etc. Many DAS partners, as well as home loan agents, help people in getting loans in a hassle-free manner, and athletes should seek help from them as well if needed. After all, the athletes will bring laurels to the nation. So, investing in sports and developing a strong infrastructure will help create Fit India.