FCI announces new sports policy; prize money up-to Rs 10 lac

State-run Food Corporation of India (FCI) today announced new sports policy for its employees and raise the award money up to Rs 10 lakh for medal winners.
"Under the new sports policy, an Olympic Gold medal winner, who is an employee of FCI, will now get an incentive of Rs 10 lakh from the FCI - up from the Rs 30,000 earlier." the corporation said in a statement.
Food Minister K V Thomas, who reviewed the policy, said, "The FCI will play a vital role in the field of sports as it is doing for the food security of the nation."

Under the new sports policy the award amount has been increased substantially for medal winners and participants across all major international sports events.
For an Olympic Silver medallist the award amount has increased to Rs 5 lakh from Rs 20,000 earlier, similarly the Olympic Bronze medal winner will get Rs 3 lakh from Rs 10,000 earlier.A participation at an Olympics will also ensure a Rs 2-lakh incentive, the statement said.
Similarly for medal-winning performances at championships happening at the Asian and Commonwealth level, it will be Rs 3 lakh for Gold, Rs 2 lakh for Silver and Rs 1 lakh for Bronze winners besides Rs 50,000 for each participant, it added.

The FCI has also increased the incentives for medal winners at the all major national level sports events also.
Besides this the winners will also be entitled for one to three immediate increments for achievements in national and international events besides out of turn promotions.
The new sports policy also contains a stipend scheme for outstanding sportspersons who are not employees of the FCI.