Now, that the Commonwealth Games 2010 are over and the results pouring in, the regulators and investigation have started their probe into what can turn out to be one of India’s largest financial scams so far. The original budget for the Games was set at Rs. 3,800 crore. However, on the basis of the Joint Parliamentary Committee’s (JPC) findings, the opposition has alleged that the actual expenditure in hosting the games was to the tune of Rs. 70,000 crore! The Government has declared an expenditure of Rs. 30,000 crore, squarely blaming the escalation on ‘rising’ prices. This is especially interesting in the light of the fact that Beijing concluded the entire Olympic Games within Rs. 28,000 crore barely two years ago.
Wednesday, November 24, 2010
Tuesday, November 16, 2010
Looking at the magnificent opening and closing ceremonies, smooth organization during the event, the enthusiasm of the spectators, and the hype around the 19th Commonwealth Games, it is hard to imagine how miserably it fell behind its goals in financial terms.