The Hindu Business Line : PM suggests tax holiday for creating sports infrastructure

THE Prime Minister, Mr Atal Bihari Vajpayee, on Tuesday asked the Finance Ministry to consider the suggestion of granting 100 per cent tax benefits to business houses for creation and maintenance of sports infrastructure, sponsoring sports championships and also for sponsoring sportspersons in their participation in international meets.

In his inaugural address at the All-India Sports Congress here, Mr Vajpayee said that he would convene a meeting of all the leading business houses to encourage them to substantially enhance their support to sports.

Stating that there should be all-out efforts to mobilise resources from all possible quarters for the development of sports, Mr Vajpayee said that sports federations too, should make earnest efforts to raise additional resources through corporate sponsorship deals and other means and reduce their dependence on the Government.

"We have already enhanced the outlay for sports in the Tenth Plan to Rs 1,145 crore from Rs 472 crore in the Ninth Plan," he said.

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