The corporate sports policy for Central Public Sector Enterprises (CPSEs) has been unveiled under the Ministry of Steel. The policy will provide a framework for promotion of sports by Steel Ministry CPSEs.
Sports is an indicator of a country’s economic development and strength and CPSEs, under the Steel Ministry, will strive to groom medal aspirants for the Olympic Games. CPSEs will discharge their responsibility through infrastructural and institutional support for talent spotting, scholarships, training and coaching. CPSEs will allocate a specific budget for sports activities, as per their financial strength, and this budget will be separate from the company’s CSR funds. Further, CPSEs under the Steel Ministry will encourage rural sports, sports for differently-abled and activities for homemakers by sponsoring annual and periodic sporting events and will also sponsor national and international sporting events.
All the Steel Ministry CPSEs will form an Apex Sports Body which will get affiliated to National Level Sports Associations and Federations, Indian Olympic Association (IOA) and Para Olympic Federation and Association. Maharatna and Navaratna CPSEs may set up Sports Academy in at least one of the identified sports discipline and maintain infrastructure there for including general fitness equipment and facilities. The Steel Ministry is responsible not only for its PSEs but also for nation-building and the sports policy is directed towards that end.