UP govt allocates Rs 10 crore for MotoGP Bharat in its state budget for 2024-25
The allocation is also an increase of two crore from previous year’s allotment.
In a significant move towards promoting motorsport and enhancing the state’s sports infrastructure, the Uttar Pradesh (UP) government has allocated Rs 10 crore for the marketing and promotion of the MotoGP Bharat in the state budget for the fiscal year 2024-25. This allocation underscores the government’s commitment to boosting the growth of motorsport and attracting international events to Uttar Pradesh.
Last year, the UP government demonstrated its dedication to motorsport development by committing Rs 8 crore for the upgradation of the Buddh International Circuit (BIC) in Greater Noida. This funding was primarily utilized to modify the track and undertake repairs of offices and buildings at the venue, setting the stage for hosting high-profile racing events.
Government investment in motorsport development
The announcement of the Rs 10 crore allocation for the Indian GP comes in the wake of Uttar Pradesh Finance Minister Suresh Kumar Khanna presenting the state budget, with a total outlay of over Rs 7.36 lakh crore for the upcoming fiscal year. This substantial budget reflects UP’s growing economy, with a focus on implementing reforms and prioritizing women-centric initiatives.
The decision to allocate funds specifically for the Indian GP underscores the government’s recognition of the event’s significance in promoting tourism, economic growth, and international exposure for Uttar Pradesh. Scheduled to be held at the Buddh International Circuit in Greater Noida from September 22 to 24, the MotoGP Bharat event is expected to attract visitors and riders from at least 22 countries.
Moreover, the Uttar Pradesh government’s directive to the Yamuna Expressway Industrial Development Authority (YEIDA) to ensure the successful conduct of the MotoGP Bharat event highlights its commitment to organizing the event with discipline and grandeur.
The involvement of key officials, including Uttar Pradesh Chief Minister Yogi Adityanath and additional chief secretary Manoj Kumar Singh, underscores the government’s proactive approach towards facilitating the success of the event.
Preparations for MotoGP Bharat event and economic impact
With preparations underway to accommodate approximately 6,000 foreigners, including personnel of the MotoGP crew and bikers, the event is poised to contribute significantly to the local economy and tourism sector. Infrastructure enhancements, such as the construction of service roads, installation of streetlights, and deployment of CCTV cameras, are being undertaken to ensure the safety and convenience of visitors during the racing event.
The significance of the Indian GP extends beyond its economic impact, serving as a platform to showcase Uttar Pradesh’s potential as a host for international sporting events. As rumours circulate about the potential return of Formula 1 to India, with a feasibility study underway for a new circuit in Gujarat’s GIFT City, the allocation of funds for the MotoGP Bharat reflects UP’s proactive stance in positioning itself as a hub for motorsport in the country.