Chandigarh : Sportspersons from Punjab winning an individual gold medal at any Olympic Games – a feat not yet achieved in the 111-year history of the modern Olympics – will become millionaires.
The state government Sunday announced lucrative cash rewards for sportspersons winning medals at international competitions, especially the Olympics.
An Olympic gold medal will fetch a cash reward of Rs. 10 million (Rs.1 crore) straightaway. The new initiative is under a new sports cash incentives policy.
Silver and bronze medals at the Olympics will get the sportspersons Rs.5 million (Rs.50 lakh) and Rs.2.5 million (Rs.25 lakh) respectively, Punjab Sports Minister Gulzar Singh Ranike said here.
For international events like world championships, etc. that are held every four years, gold, silver and bronze medal winners will get Rs.2.1 million (Rs.21 lakh), Rs.1.1 million (Rs.11 lakh) and Rs.700,000 cash respectively.
Winners of medals at Asian or Commonwealth Games will get cash incentives of Rs.700,000 for gold, Rs.500,000 for silver and Rs.300,000 for bronze medals.
Cash incentives have also been announced for other international, South Asian and national events.
Handicapped players winning medals at international events will also receive cash rewards of between Rs.200,000 and Rs.500,000.