The report further states that the silver medal winners will get INR 75 lakh whereas the bronze winners will receive a cash prize of INR 50 lakh. The Olympics will kick-start from July 26 till August 11.

As per the government scheme for the medal winners, the gold medal winner has to receive INR 75 lakh, silver winner INR 50 lakh and the bronze medallist receives INR 30 lakh.

In 2018, the Indian Olympic Association had handed out cash rewards to the athletes for winning medals at the Jakarta-Palembang Asian Games. Back then, athletes received INR 5 lakh, silver medallist received INR 3 lakh and bronze winner got INR 2 lakh.

Post then, the IOA has been constantly handing out cash rewards to the Indian athletes. Post the 2021 Tokyo Olympics, they rewarded the gold medal winners INR 75 lakh, silver medallists earned INR 40 lakh and the bronze medallists got INR 25 lakh.

Boost For Indian Athletes From World Athletics

In April, the World Athletics (WA) had announced that gold medal winners at the Paris event will earn USD 50,000 (INR 42 lakh approx.) in what was a momentous step ahead of the Summer Olympics.

The IOA will also allow a pocket allowance of USD 50 per day for the Indian athletes at the Paris Olympics. The allowance granted by the IOA, has been calculated as per the 25-days to be spent on the 195 athletes of the Indian contingent.

The Times Of India report further states that IOA will also hand out cash grant to the athletes and their support staff in Paris. They will receive INR 2 lakhs whereas the staff will get INR 1 lakh.

The Men's Hockey team will receive INR 2 crore if they come back with a gold medal, INR 1 crore if they win silver and INR 75 lakh if they end up with a bronze, as reported in The Times Of India.