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According to a report by the Times of India, the Indian Olympic Association (IOA) will provide a cash reward of Rs 1 crore to individual gold medalists in the Paris Olympics. Meanwhile, the silver and bronze medalists will receive Rs 75 lakh and Rs 50 lakh, respectively.
As per the government norms, the gold medal winners had been taking home Rs 75 lakh as the cash prize, with silver and bronze medalists getting Rs 50 lakh and Rs 25 lakh, respectively, since the Rio Olympics.
IOA has also decided to award a separate cash reward of Rs 2 crore for the Indian men's hockey team if they secure a gold medal at the Paris Olympics. Meanwhile, the apex organization will provide the team with a remuneration of Rs 1 crore and Rs 50 lakh for clinching a silver and bronze medal, respectively.
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In a recent interview with TOI, IOA President PT Usha was confident of the Indian contingent finishing with a double-digit medal tally at the Paris Olympics. They have a Rs 7 crore budget set aside for the medal winners as well. Notably, India finished with seven medals in Tokyo, including one gold, two silver, and four bronze medals.
"I don’t want to put pressure on athletes by spelling out the number of medals we are expected to win. Of course, the expectation is to surpass our Tokyo tally of seven. It will be more than that. I am confident that India will have a double-digit medal tally," PT Usha told TOI.
IOA officials set to receive $300 DA per day for Paris Olympics
A report by The Tribune mentions that the IOA has set a dearness allowance budget of $300 (Rs 25000) per day for five days for its executive council members during the Paris Olympics. The amount is double what the officials were paid during the Tokyo Olympics. Furthermore, they will also be paid $1000 (Rs 83,410) for five days.
However, the athletes will continue to receive $50 (Rs 4,170) per day during the Games. The decision to revise the dearness allowance was taken in December last year in an executive council meeting.
