There are no specific global standards for funding of sports in a country. In addition to Government Budgetary support, additional mobilization of resources from other Sources including the corporate entities both in public and private sector, for promotion and development of sports in the country, the Government had set up National Sports Development Fund (NSDF) in 1998. Since inception and till date, contribution of Rs. 155.57 crore has been received from corporates both in public and private sector and individuals and the Government of India has made contribution of Rs. 84.62 crore to NSDF as matching share.
In order to improve transparency in sports spending, Government incentivizes the contributions of Corporate Sector to NSDF in sports by exempting 100% contribution from income tax under Section 80(G) of the Income Tax Act.
Further, Government has also taken a number of steps to ensure that all National Sports Federations (NSFs) function in a transparent manner. Instructions have already been issued to bring the NSFs under the purview of Right to Information Act. These instructions have also been made an integral part of the National Sports Development Code of India, 2011.
The Government has transformed method of budgeting, accounting, expenditure and cash management by releasing funds through Public Financial Management System (PFMS) and Direct Benefit Transfer (DBT) module.
All NSFs receiving funding of Rs.10 Lakh or more in a financial year have been declared as Public Authority under RTI act 2005. All NSFs getting covered by this provision are required to designate Central Public Information Officers and Appellate Authorities as per Section 5 of the Right to Information Act, 2005. They are further requested to fulfil their obligations of being a Public Authority, as per Section 4 of the Right to Information Act, 2005.